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Blackpool’s piers return to profit in 2021

Blackpool Piers

The famous Blackpool piers are an iconic feature of the seaside resort and after a year of difficulty in 2020 due to the Covid-19 restrictions, visitor numbers have soared and have helped bring them back to profit. 

 

Blackpool’s piers return to profit in 2021

 

The Covid-19 travel restrictions forced many holidaymakers to revise their plans for 2021 and the resultant boom in staycations has been excellent news for Blackpool and its attractions.

The rise of staycations in the UK during 2021 was a massive boost for the tourism industry in Blackpool and the company which runs the famous Blackpool piers is reportedly back in profit.

Blackpool Pier Company owns all three piers at the seaside resort and in 2021 they posted a total turnover of £16.4 million, a massive £7.1 million more than the previous year. The company also announced a pre-tax profit of £4.7 million for 2021 after posting a loss of £196,315 in 2020.

Indeed the turnover in pre-pandemic 2019 was a little over £10 million with a pre-tax profit of £975,000, while the total headcount within the firm rose to 189 from 148 pre-pandemic.

A statement from the Blackpool Pier Company board said: “The Covid pandemic and the associated restrictions implemented by the UK Government continued into 2021 shortening the trading season by three months.

“The group made use of the support offered in the way of local recovery grants to support the additional closures whilst the CJRS Scheme was utilised to support the employees and limit the loss of jobs until trading without restrictions was permitted.”

It continued: “The group continues to invest heavily in fixed assets in respect of the pier structures and in brining new attractions to the group.

“The directors are conscious of the historic importance of the three piers and as such ensure that there are ongoing improvement and maintenance plans in place to preserve for future generations to enjoy.

“The easting of restrictions in April 2021 brought about the anticipated recovery that the directors believed would happen with the business benefitting from the ‘staycation’ effect which has enabled the group to return to a profitable position and rebuild its reserves.”

With regard to its future plans, the company added: “The directors are continually looking for ways and embracing opportunities to improve the existing bars, amusement arcades and fairground rides in order to keep up with current market trends and attract new visitors to the piers and the resort as a whole.

“With easing of lockdown restrictions within the UK in 2021 and the continued restrictions on traveling aboard, seaside resorts have experienced record levels of visitor numbers which has allowed the local attractions and businesses to recover from the losses of 2020 and build reserves.

“Following the successful rebuilding of reserves, the directors have undertaken a capital investment project to bring new fairground rides and amusement machines to the business for 2022.”