Record visitor levels and international travel restrictions has led the company behind Blackpool's three piers more than recover its losses from 2020 as it continues to bounce back from the pandemic, new documents have confirmed.
The Blackpool Pier Company, which owns the South, Central and North piers on city's Promenade, added that visitor numbers and the resulting income have "exceeded projections" and it has also been able to rebuild its financial reserves.
The update has been included in newly-filed documents with Companies House for its 12 months to December 31, 2020.
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The accounts show its turnover decreased from £10.3m to £7.1m while it slipped from a pre-tax profit of £975,973 to a loss of £196,315.
A statement signed off by the board said: "The Covid pandemic and the associated restrictions implemented by the UK Government resulted in the closure of the business for five months of the year which significantly reduced the groups' ability to generate income.
"The group made use of the support offered by the HMRC and the local council by containing a CBIL loan and local recovery grants to enable it to continue to meet its financial obligations whilst the CJRS Scheme was utilised to support the employees and limit the loss of jobs during the group's closures.
"The losses incurred by the group for 2020 as a result of the pandemic were greater than anticipated due to the changes in restrictions implemented in October within the Lancashire area.
"The directors were satisfied with the group's position given the adverse trading conditions and additional costs the business incurred in order to adhere to the Covid guidance in place.
"They were confident that with the easing of restrictions in 2021 that businesses would quickly recover and benefit from the 'staycation' effect enabling the group to return to a profitable position.
"Whilst the group's attractions closed to customers until the phased easing of lockdown restrictions between April and May 2021 and despite the social distancing and trade guidelines that had to be implemented, visitor numbers and the resulting income, exceeded projections.
"The group incurred additional costs for adhering to the guidance, however the group has still been able to recover from the losses incurred in 2020 and rebuild reserves.
"The restrictions on travelling abroad have brought record levels of visitor numbers back to seaside resorts, benefitting the local attractions and businesses."
