BRIGHTON Palace Pier made record revenues over the last year as the city recovered from the effects of the pandemic.
The seafront attraction saw net sales for the year to June 26 rise to £40.1 million, up almost 200 per cent on 2021 and up 25 per cent on 2019, the last full year of trading prior to the spread of Covid-19.
The performance marks a record result for the Brighton Pier Group, which owns the Palace Pier.
The company also saw like-for-like sales for its bars division and golf division rise by 21 per cent and 23 per cent respectively on 2019.
The pier's like-for-like sales increased by 12 per cent on 2019 figures.
Anne Ackord, chief executive officer, said: “I have been delighted by the strength of the group’s recovery following the Covid-19 pandemic and am pleased that we have surpassed £40 million of sales for the first time in the group’s history.
“This must be attributed to the endeavours of all the group’s employees, for which we are very grateful.
“This trading period has been exceptional, benefiting both from pent-up customer demand and from hospitality-targeted government recovery packages.
“The cash-generative nature of the group’s diverse businesses puts us in a unique position to capitalise on new opportunities as and when they arise.”
The strong revenues allowed the group to repay £7.7 million in debt, amounting to 37 per cent of borrowings, during the financial year.
Brighton Palace Pier was forced to close during the height of the pandemic, welcoming more than 6,000 people on its first day of reopening in April 2021.
The pier first opened in May 1899, the third to be constructed in Brighton after the Royal Suspension Chain Pier and the West Pier but it is now the only one left in operation.
Crowds flock to its attractions, fairground rides, arcade games, and restaurants.
The Palace Pier has received national and international attention after featuring in trailers for the upcoming film My Policeman, starring former One Direction star Harry Styles.
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