Legoland and Madame Tussauds parent Merlin Entertainments saw 2010 profits rise by 8.5% to more than £255 million on the back of a 2.5 million rise in visitor numbers to its attractions.
Total visitors rose by 6.5% year on year to 41 million, helping boost underlying group EBITDA (profit before tax and other costs) from £235.7 million in 2009 to £255.8 million – a tenth consecutive year of growth. Revenue rose by 4.1% to more than £800 million.
The world’s second-largest visitor attraction operator, with 23 UK attractions, said it continued to see “strong and resilient growth” against a tough economic backdrop. Current 2011 trading was described as being in line with expectations.
Chief executive Nick Varney said: “During 2010 we significantly extended our geographic footprint, while delivering further growth in turnover and profitability as we welcomed 2.5 million more visitors to our iconic attractions around the world.”
The company now operates more than 70 attractions in 17 countries across four continents. New attractions planned to open this year include the opening of Legoland Florida, Legoland Malaysia and a Legoland Windsor Hotel; Sea Life Kansas City and a Legoland Discovery Centre in Atlanta.
The company plans to have more than 80 attractions across four continents by the end of 2012 as it accelerates its growth plans. Varney said: “This year will be one of the most exciting in Merlin’s history. October will mark our move into the biggest family tourist centre in the world when we open the gates to Legoland Florida.
“The development of this exciting theme park on the historic Cypress Gardens site has gone to plan and early ticket sales have confirmed our confidence in taking Legoland to the heart of the US theme park market.
“In addition, we will capitalise on the wealth of opportunities open to us in the Asia Pacific market in the wake of our acquisition of the Sydney Attractions Group while keeping up the pace of change in Europe and the US with the opening of seven new Midway attractions.”
The company said it was approaching the start of its key trading period “in confident mood”.
“We have an impressive pipeline of new developments across all of our existing attractions, including thrilling new roller coasters in our theme parks in Germany and Italy,” said Varney. “While the outlook for the consumer economy remains uncertain, we believe Merlin will make further good progress and continue to grow.”