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Birmingham Post
Birmingham Post
Business
Jon Robinson

Rise of staycations help Blackpool's piers return to profit

Covid restrictions that encouraged the rise of staycations in the UK last year helped the company that runs Blackpool's piers back into profit, new documents have revealed.

The Blackpool Pier Company, which owns the South, Central and North piers on city's Promenade, has posted a turnover of £16.4m for 2021, up from £7.1m in 2020.

It also reported a pre-tax profit of £4.7m for the year after falling to a loss of £196,315 in the prior 12 months.

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In 2019, the company's turnover totalled £10.3m and it achieved a profit of £975,973.

According to newly-filed documents with Companies House, the firm's headcount rose from 148 to 189 in 2021.

A statement signed off by the board said: "The Covid pandemic and the associated restrictions implemented by the UK Government continued into 2021 shortening the trading season by three months.

"The group made use of the support offered in the way of local recovery grants to support the additional closures whilst the CJRS Scheme was utilised to support the employees and limit the loss of jobs until trading without restrictions was permitted."

It added: "The group continues to invest heavily in fixed assets in respect of the pier structures and in brining new attractions to the group.

"The directors are conscious of the historic importance of the three piers and as such ensure that there are ongoing improvement and maintenance plans in place to preserve for future generations to enjoy.

"The easting of restrictions in April 2021 brought about the anticipated recovery that the directors believed would happen with the business benefitting from the 'staycation' effect which has enabled the group to return to a profitable position and rebuild its reserves."

On the future, the company said: "The directors are continually looking for ways and embracing opportunities to improve the existing bars, amusement arcades and fairground rides in order to keep up with current market trends and attract new visitors to the piers and the resort as a whole.

"With easing of lockdown restrictions within the UK in 2021 and the continued restrictions on traveling aboard, seaside resorts have experienced record levels of visitor numbers which has allowed the local attractions and businesses to recover from the losses of 2020 and build reserves.

"Following the successful rebuilding of reserves, the directors have undertaken a capital investment project to bring new fairground rides and amusement machines to the business for 2022."

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