Summary
• Group revenue grew by 19.4% (9.6% on a constant currency basis), reflecting a strong contribution from new accommodation and attractions, and continued like for like revenue growth;
• LEGOLAND Parks revenue increased by 34.6% at actual FX rates. On a constant currency basis, revenue grew by 20.8% due to the opening of LEGOLAND Japan, a strong Easter trading period driving 8.0% like for like growth and the positive contribution from new accommodation including the new 'Beach Retreat' in LEGOLAND Florida;
• Midway Attractions delivered 11.3% revenue growth or 2.3% on a constant currency basis. The opening of new Midway attractions offset a decline in like for like revenue of 0.4%, which reflected a more subdued London market as well as the expected phasing of growth;
• Resort Theme Parks revenue grew by 12.7%. Revenue growth of 7.7% at constant currency was driven by a 6.2% growth in like for like revenue, due to a strong Easter and a soft comparative period;
• Profit before tax was stable in part due to a number of adverse timing effects which will normalise in the second half of 2017;
• Good progress towards the 2020 strategic milestones:
- Five new Midway attractions opened in the period, including our new brand 'Little BIG City' in Berlin;
- 381 new accommodation rooms opened to date across four of our theme parks (including 305 during the period);
- LEGOLAND Japan opened on 1 April 2017, ahead of schedule and on budget.
Dividend
The Board announces its intention to pay an interim dividend of 2.4 pence per share representing a 9.1% increase year on year. This is set to equal one third of the 2016 dividend, in accordance with guidance previously provided.
