UK's Brighton Pier Group drops after weak trading update

Brighton Pier

15/02/2023 14:38

** Shares of UK entertainment business Brighton Pier Group
Plc  PIER.L  fall as much as 12.2% to 60.1p; lowest in almost
two months
        ** Revenue for 26 weeks ended Dec. 25 of 18.8 million
pounds($22.61 million) down 15.3% from a year ago, although
numbers are not easily comparable
        ** Still, 26-week rev 8% higher than 2019 pre-pandemic
levels 
        ** However, like for like sales, excluding its
Lightwater Valley unit, were down 2% from 2019, reflecting a
general dip in consumer confidence 
    ** "Like many in our industry, we have had to absorb higher
costs relating to wages, energy prices and other inputs" - CEO
Anne Ackord
    ** If losses hold, stock on track to see its worst session
in nearly five months
    ** Stock up 0.7% YTD as of last close
($1 = 0.8299 pounds)
 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))