The scale of the impact the start of the Covid-19 pandemic had on the revenue and pre-tax profits of holiday village operator Center Parcs towards the end of its financial year has been revealed.
Accounts for Center Parcs (Holdings 1) have revealed the group's revenue fell from £480.2m to £443.7m in the 12 months to 23 April 2020 while its pre-tax profits went from £76.5m to £43m.
The group's sites were closed to guests on 20 March 2020 because of the pandemic and did not reopen for the rest of the financial year. They were able to re-open on 13 July with reduced accommodation capacity and guest activities.
During the financial period, about 90 per cent of the group's employees were furloughed while it also benefitted from the 12-month business rates holiday and also agreed with HMRC that certain tax liabilities could be deferred.
The Center Parcs business operates ﬁve holiday villages in the United Kingdom, at Sherwood Forest in Nottinghamshire, Elveden Forest in Suffolk, Longleat Forest in Wiltshire, Whinfell Forest in Cumbria, Longford Forest in Ireland and Woburn Forest in Bedfordshire.
bron en hele artikel: Insider media