Paragon revenue rises as it completes more projects

Attractions design, production and fit-out business Paragon Entertainment posted its unaudited interim results for the six months to 30 June on Wednesday, reporting a 45% year-on-year uplift in revenue to £8m.

The AIM-traded firm said EBITDA was £0.6m, representing a margin improvement to 7.4% from 5.1% in the same period last year, while its gross margin continued to improve to £2.2m or 27.2%, compared to £1.4m or 25.8%.

“Paragon has again delivered a credible performance as we continue to do what we say we will do,” said chairman Mark Taylor.

During the period, Paragon successfully completed a number of projects including the Madagascar, Kung Fu Panda, Cloudy With A Chance Of Meatballs and Hunger Games attractions at Dubai Parks & Resort.

It also completed the Cheshire and Manchester Fire Safety Centres, and refurbished the Pirates of the Caribbean attraction at Disneyland Paris.

Net debt stood at £0.88m at period end, but since then a debtor payment of £1.7m was received early in August, the board reported.

“The hard work required to achieve these results in spite of a volatile global environment should not be underestimated and, on behalf of the board, I wish to thank all our staff on the ground and in our workshops for the wonderful, world-class creative work which they produce,” Mark Taylor added.