Legoland owner Merlin Entertainments sees shares leap on solid 2017 results, positive 2018 outlook
Merlin said revenue growth from Legoland Parks was strong, rising by 25% at actual rates and by 4.7% on a like-for-like basis to £609.0mln
Company
LON:MERL
Merlin Entertainments Group casts its spell on tourists looking for amusement. The company is a leading operator of amusement parks and other entertainment venues with a total of more than 85 attractions in nearly 20 countries. It runs the LEGOLAND chain of theme parks with five locations in Europe and the US, along with the well-known Madame Tussauds wax museums. Other operations include Alton Towers Resort, the SEA LIFE aquariums in Europe, and the giant Ferris wheel known as The London Eye. Formed in 1999 through a buyout of Vardon Attractions, Merlin Entertainments is owned by a consortium of investors that includes private equity giant The Blackstone Group, LEGO Holding, and CVC Capital Partners.
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Merlin said revenue growth from Legoland Parks was strong, rising by 25% at actual rates and by 4.7% on a like-for-like basis to £609.0mln
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The FTSE 100 extended the morning's losses toe end the day 47 points lower at 7,247
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Around 3.10pm, the FTSE 100 index was down about 6 points at 7,411, below the day’s peak of 7,425.19, but above the low of 7,389.54
Merlin, which operates attractions such as Madame Tussauds waxworks museum and the London Eye, said the new Legoland was planned to open in 2020 and would welcome customers between April and November
“We have often struggled with valuation but see the significant share price fall of 30% since June (vs sector down 6%) and cheapest ever valuation as an attractive entry point”
FTSE 100 closed at 7,542, below last Thursday’s closing high of 7,556.24 while the Dow soared above the 23,000 level today
The trading update overshadowed seemingly very good news of a roll-out of Peppa Pig styled attractions
A look at some of the biggest risers and fallers today in London
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The FTSE 100 index closed down 10.8 at 7,516 on the day
Archive
We already know revenues for the year just gone will be at the top end of analysts' forecasts
Archive
The Week Ahead includes economic data on UK jobs, inflation and retail sales along with full year results from ASOS and Bellway and trading updates from Travis Perkins, Merlin Entertainments, Unilever and Intercontinental Hotels Group
"We can confirm that Merlin is not involved in any discussions that might lead to an acquisition of SeaWorld or any of its constituent parts."
Merlin Entertainments - the owner of Legoland and Madame Tussauds - is however interested in just buying part of SeaWorld, and a split of the water park by venues may not be possible, according to a New York Post report
SeaWorld Entertainment Inc saw shares splash 4.46% higher to US$14.74 after hours on Wednesday after it was reported in various media that it was considering a sale
The FTSE 100 rose to within a couple of points of 7,500 after US markets opened higher
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DFS in August cautioned that earnings would be at the lower end of guidance.