London attractions ‘suppressing’ Merlin profits

London Eye, Merlin Entertainments

Merlin Entertainments has said the performance of its London attractions is “suppressing” company performance.

Shares in the company this afternoon closed down almost 6%, following the announcement that profits had increased by only 1.3% in the past year.

A trading statement said that “yet to see any significant benefit” from the fall in the value of the pound seen since the UK voted to leave the European Union on 23 June.

It also blamed a “challenging market” in US state of Florida.

It was announced that a new ‘midway’ brand is being launched by the company, under the name of Little Big City.

Described as a “new, internally developed brand”, the attractions would offer an “imaginative recasting of the ever popular miniature world attraction format.”

Its first launch will be in the German capital Berlin next year.

Merlin said the brand will be “the new and interactive way to experience a city’s history, culture and individuality, using a unique combination of traditional and modern special effects, storytelling and model cityscapes.”