Change of Accounting Date

RNS Number : 3820P

Brighton Pier Group PLC (The)

20 June 2022

 

20 June 2022

The Brighton Pier Group PLC

(the "Company" or the "Group")

Change of Accounting Reference Date and Notice of Trading Update

Brighton Pier Group PLC is a diversified UK entertainment business that owns and trades Brighton Palace Pier, as well as eight premium bars, eight indoor mini golf sites and the Lightwater Valley theme park in North Yorkshire.

The Group announces that it will be changing its accounting reference date (and financial year end) from the 30 June to the 31 December.

The Directors believe that the new accounting reference date will enable more meaningful comparison of the Group's financial performance year to year, as it ensures that the typically busy summer trading months are aggregated within a single reporting period, as opposed to being split into two financial periods as they are currently. Furthermore, given that the current audit takes place during the typically busier summer months, the Directors believe that it can further improve staffing efficiencies by moving the audit process to take place in the quieter period following Christmas.

The Company expects to publish its results for the 52-week period ended June 2022 (unaudited), by the end of September 2022, with a comparison to the 52-week period ended June 2021.

By the end of April 2023, the Company expects to report an extended audited set of results for the 78-week period to December 2022, with a comparison to the latest audited accounts for the 52 weeks ended June 2021. These results will also include a proforma set of financial statements for the 52 weeks ended December 2022 compared to the 52 weeks ended December 2021.

Trading Update

The Group looks forward to announcing a trading update, later in July 2022, for the 52-week period  ending 26 June 2022. The Company expects to report that revenue and adjusted EBITDA will be in line with market expectations.  

Enquiries:

The Brighton Pier Group PLC	Tel: [phone]
Luke Johnson, Chairman	Tel: [phone]
Anne Ackord, Chief Executive Officer	Tel: [phone]
John Smith, Chief Financial Officer	Tel: [phone]
Cenkos Securities plc (Nominated Adviser and Broker)
Stephen Keys (Corporate Finance)	Tel: [phone]
Callum Davidson (Corporate Finance)	Tel: [phone]
Michael Johnson (Sales)	Tel: [phone]
Novella (Financial PR)	Tel: [phone]
Tim Robertson
Claire de Groot
Safia Colebrook

 

END

 

 

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