Losses have deepened at Drayton Manor after a financial year which the theme park said was "one of the most difficult in the group's history". The park suffered a fall in visitor numbers following the tragic death of an 11-year-old girl, and after armed police were stationed at the attraction in the spring and early summer of 2017 following the UK's terror threat level rising to 'critical'.
Newly filed accounts for the park, which is based near Tamworth in Staffordshire, have revealed its
pre-tax losses slumped from £1.4m to £4.2m during the year to 28 February 2018.
The company said factors including the
tragic death of an 11-year-old girl in May 2017and the presence of armed police at the park, alongside economic uncertainty, contributed to visitor numbers falling to about 70 per cent of expected levels during the summer.
Visitor numbers improved to "near historic levels", Drayton Manor added, but it was unable to recover the shortfall experienced during the late spring and early summer.
As a result, the business underwent a refinancing exercise. A repayment holiday was granted by the company's bank for a loan while its overdraft facility was extended for "the six months of the year when cash is at its tightest".
Drayton Manor's total turnover decreased from £24.9m to £22.9m during the financial year.
Turnover from the theme park, which first opened in 1949, decreased from £19.9m to £18.1m and from £4.9m to £4.8m for the hotel.
Drayton Manor added that it is "pleased to report that the business is operating within these facilities and that all covenants were met at the year end and are forecast to be met at the next year end".
Chairman Colin Bryan said: "Drayton Manor Park’s results have been affected by a number of factors, including the economy’s current state of uncertainty and, following the Westminster Bridge attack, heightened armed police presence at the park.
"However, we’re seeing a return in confidence by visitors, reflected in increased numbers this season."
A statement signed off by the board added: "The financial year has been one of the most difficult in the group's history.
"In May 2017, a tragic incident took place in the theme park which led to a young girl losing her life.
"This event shook the whole of the Drayton Manor family from the board of directors, through to the staff and visitors.
"While the investigations are continuing, we are unable to comment on the likely findings of the investigations or quantify the financial impact that this event has had on the business."
The James and the Balloon ride opened in Thomas Land in April 2017 while other investments in rides and attractions have been "directed towards uplifting the reliability and 'look and feel' of a number of existing rides rather than investing in new rides".
The Accelerator rollercoaster was rebranded from Ben 10 while StormForce 10 was closed for the year while the journey of the boats around the ride was improved.
The Sheriff's Shoot Out ride was upgraded while The Buffalo ride also received a face lift.
The hotel's restaurant was extended with the addition of a Garden Room.
The park was hit at the start of its new financial period, the year to 28 February 2019, by very wet and cold weather which forced it to close for three days during March due to heavy snowfall.
Easter falling early, which coincided with the cold weather, also resulted in visitor numbers for the first two months of the year to be below expectations.
However, in May the weather improved and visitor numbers "regularly exceeded" forecasts which "helped to claw back some of the shortfall from earlier in the year".
Drayton Manor added that the summer period was strong and visitor numbers were in line with its expectations.
The number of people employed by the park rose from 452 to 486.