Alton Towers profits set to halve to £40m after ride crash

Company issues profit warning

Alton Towers has issued a profit warning after the accident on the Smiler ride last month impacted visitor numbers.

Profits for the theme park division of Alton Towers owner Merlin are likely to be between £40m and £50m for 2015, compared with £87m last year.

Merlin said visitor numbers had plummeted across its theme parks after the crash in which four people were seriously injured.

The park was closed for five days, with rides at other parks being temporarily closed too. Merlin also suspended marketing of all its theme parks in the crucial period in the run up to its peak summer season.

“The combination of these factors has significantly reduced volumes at Alton Towers Resort and, to a lesser extent, the UK Resort Theme Parks estate,” the report which carried the profit warning said.

“Action is being taken to rebuild momentum and re-engage with our customers.”

CEO Nick Varney said: “The accident at Alton Towers in June was a devastating event, for which we have accepted responsibility and are deeply sorry. We have been humbled by the grace and fortitude of those who were injured, and their families, and will continue to do whatever we can to support them.”

 

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