BRIGHTON Palace Pier posted record revenue last year as the city recovered from the effects of the pandemic.
The seaside attraction saw net sales rise to £40.1m for the year to 26 June, up almost 200 per cent on 2021 and up 25 per cent on 2019, the last full year of trading before the spread of Covid-19.
The performance marked a record result for the Brighton Pier Group, who own Palace Pier.
The company also saw like-for-like sales in its bars and golf divisions increase by 21 percent and 23 percent, respectively, compared to 2019.
The pier’s like-for-like sales rose 12 percent from 2019 figures.
Anne Accord, Chief Executive Officer, said: “I have been delighted by the strength of the group’s recovery from the Covid-19 pandemic and am delighted that we have surpassed £40m in revenue for the first time in the group’s history.
“This is thanks to the commitment of everyone in the group, for which we are very grateful.
“This trading period has been exceptional, benefiting from both pent-up customer demand and hospitality-focused government recovery packages.
“The cash-generating nature of the Group’s various businesses puts us in a unique position to capitalize on new opportunities as they arise.”
The strong revenues enabled the group to repay £7.7m of debt during the financial year, representing 37 per cent of borrowings.
Forced to close during the height of the pandemic, Brighton Palace Pier welcomed more than 6,000 people on the first day of reopening in April 2021.
The pier first opened in May 1899, the third to be built in Brighton after the Royal Suspension Chain Pier and the West Pier, but is now the only one still in use.
Crowds flock to the attractions, rides, arcade games, and restaurants.
The Palace Pier has garnered national and international attention after being featured in trailers for the upcoming film My Policeman, starring former One Direction star Harry Styles.
https://www.theargus.co.uk/news/20581912.record-revenues-brighton-palace-pier-bounce-back-covid/?ref=rss Record revenue for Brighton Palace Pier after Covid recovery