Improved sales and earnings for Park Resorts
- Credit: Archant
Leading UK holiday centre operator Park Resorts today reported improved annual sales and earnings as a financial restructuring completed in 2013 began to pay off.
Park Resorts, which has 49 sites around the UK including around a dozen in East Anglia, and employs more than 3,500 people during the peak holiday season, said its figures for 2014 had also benefited from acquisitions over the past two years.
Revenues grew by 7.5% on a pro forma basis, from £214m in 2013 to £230m last year, with earnings 28% higher at £57.9m, against £45.3m a year earlier.
“These results clearly demonstrate that the financial restructuring, which was successfully completed in August 2013, has delivered the anticipated financial benefits and been a major catalyst for growth,” Park Resorts said in a statement.
“The group has also benefitted from the acquisition of South Lakeland Parks in 2013, as well as contributions from Southview and Manor Park which were brought into the Group late in the season in August 2014.”
David Boden, chief executive, added: “Park Resorts has had a strong year, increasing cash profits by almost 30%. We have continued to develop the business through investment in existing sites and by new additions to the portfolio giving our customers greater choice and modern facilities.
“We will continue to innovate and upgrade our offer, ever striving to create amazing memories for owners and holidaymakers alike. Bookings are strong for 2015 and we look forward to another year of good progress.”
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Park Resorts’ locations in the region including Kessingland Beach near Lowestoft and Naze Marine, Valley Farm, Martello Beach, Coopers Beach, Weeley Bridge and Waterside in north-east Essex.