Profits crash a Merlin Entertainments as the hot weather puts visitors off indoor entertainments
Profits at Madame Tussauds and Thorpe Park owner Merlin Entertainments crashed as the hot weather visitors off its indoor attractions.
The group, which also owns Legoland and Alton Towers, reported a 14 per cent drop in profits to £43million in the 26 weeks to June 30.
Revenues were up 3.5 per cent to £709million, with sales at its Legoland parks climbing 7.8 per cent after adding a Sea Life centre and 252-room hotel in Japan.
But visitors to its indoor attractions such as Madame Tussauds and Sea Life Centres during the summer heatwave across Europe have dipped.
Shares fell 3.6 per cent, or 14.2p, to 376.3p.
Lee Wild, head of equity strategy at Interactive Investor, said: ‘A great summer like this should continue to generate bumper profits for outside venues.
But the Europe-wide heatwave is a double-edged sword.’
Merlin boss Nick Varney said: ‘We are now entering our peak season where we generate the majority of our annual profit.
‘With many exciting new initiatives and launches to come in the future, we remain confident in our long-term prospects.’