Brighton Pier Group (The) (PIER)

60.50p
   
  • Change Today:
      3.30p
  • 52 Week High: 114.50
  • 52 Week Low: 54.50
  • Currency: UK Pounds
  • Shares Issued: 37.29m
  • Volume: 33,362
  • Market Cap: £22.56m

Brighton Pier FY earnings seen 'significantly ahead' of expectations

By Iain Gilbert

Date: Friday 08 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Leisure business Brighton Pier Group said on Friday that full-year earnings were expected to be "significantly ahead of market expectations" after a "strong" summer trading performance.
Brighton Pier stated that with all four divisions mostly opened throughout the 13 weeks ended 26 September, total net sales for the period came to £15.9m, up 145% year-on-year and 44% against the same pre-Covid period in 2019.

Like-for-like sales at the Pier were up 47% on 2020 and 14% on 2019, across its golf sites they were up 119% compared to 2020 and up 30% against 2019, and bar sales were up 36% on 2019, with most venues closed in 2020, significantly exceeding internal expectations.

Separately, Brighton Pier confirmed that Business Interruption Insurance claims totalling £5.0m had been recently settled with its insurers, with payments on account of £4.1m already being received and the remaining £900,000 received on Thursday.

Chief executive Anne Ackord said: "The sales over this important 13-week trading period have been very strong across all divisions.

"It is also good to be able to report a new record, with the final bank holiday week of this summer being the first time in the Pier's history that it has achieved gross sales in excess of £1.0m over a single week."

As of 0855 BST, Brighton Pier shares had surged 26.17% to 67.50p.

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PIER Market Data

Currency UK Pounds
Share Price 60.50p
Change Today 3.30p
% Change 5.77 %
52 Week High 114.50
52 Week Low 54.50
Volume 33,362
Shares Issued 37.29m
Market Cap £22.56m

PIER Star Ratings

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What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
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PIER Dividends

  Latest Previous
  Final Special
Ex-Div n/a 06-Nov-14
Paid n/a 27-Nov-14
Amount 0.000p 2.50p

Trades for 31-Mar-2023

Time Volume / Share Price
14:21 5,000 @ 60.00p
14:20 5,000 @ 59.00p
13:57 2 @ 62.00p
13:56 4,883 @ 60.30p
12:26 1,500 @ 60.30p

PIER Key Personnel

CFO John Anthony Smith
CEO Anne Martin

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