Blackpool Pleasure Beach reports pre-tax loss of £1.7m

Blackpool Pleasure Beach has reported a pre-tax loss of £1.7m according to latest accounts for the year ending March 24, 2024.

The historic amusement park also said that turnover remained flat at £37.3 million, while costs rose sharply.

The company says high inflation, interest rates, and 'significant increases' in the National Minimum Wage are key factors impacting profitability.

In the newly filed accounts to Companies House, bosses blamed poor weather during peak trading periods and ongoing fallout from the cost-of-living crisis, which it says has made visitors more hesitant.

Despite this, on park attendances rose slightly by two per cent but overall remain depressed against pre-pandemic levels.

Meanwhile, in mid-February, Pleasure Beach officials announced that five rides would be shutting.  Gallopers, Thompson Carousel, Alpine Rallye and Eddie Stobart Convoy only had very limited opening hours and were only open at peak times, and the fifth was Red Arrows SkyForce. These were the least popular rides according to rider data.

In the directors' report, it said: "This current economic climate means that there is a lot of uncertainty in the market, we have recently started to see inflation fall and as a result a reduction in interest rates.

"The group continues to maintain the fabric of the park with its programme of maintenance and repairs so that the park achieves the high standards expected by the public and remains competitive. The company seeks to improve its visitors experience by investing in new attractions and other customer focused improvements.

 "Utility prices have increased dramatically and the company is committed to finding ways to reduce our energy usage.

 "Weather remains a key factor in terms of overall attendance and turnover.

"The company has previously used insurance instruments to help mitigate the potential impact of weather.

"Following a review of weather impact on attendance and pricing strategy the decision was made not to use such instruments this year.

"The company will continue to consider their use going forward." 

A spokesperson from Pleasure Beach Resort said: “It has been a challenging few years of trading across the entire industry, and we have undertaken the necessary actions to continue to offer the same amazing experiences to our guests.

“We have already undertaken a strategic review and implemented changes; this has now concluded. The changes referenced in the accounts have all been actioned and completed, furthermore there are currently no plans to close any further rides.

 “We are confident there is lots to look forward to at Pleasure Beach Resort for the immediate and long-term future, beginning with the opening of Launch Pad this spring, and our announcement of an £8.72m Gyro Swing, opening in 2026.”