TIDMPEL

RNS Number : 9250N

Paragon Entertainment Limited

01 November 2016

 
Date:      1 November 2016 
On behalf  Paragon Entertainment Limited ("Paragon", 
 of:        the "Company" or the "Group")

Paragon Entertainment Limited

Trading update

Paragon Entertainment Limited (AIM: PEL), the attractions design, production, fit-out and licensing business, is pleased to provide an update on current trading for the financial year to date.

The Board is pleased to announce that the Group is trading ahead of the Board's previous expectations as Paragon has moved beyond the distractions of recent years which has enabled staff and management to focus their efforts on its core attraction 'design and build' business. In addition, the strength of the current order book gives management confidence in continued growth for the year ahead.

The Board now expects revenue for the full year ending 31 December 2016 to be approximately GBP13.2m, ahead of previous expectations of GBP11.0m; and EBITDA for the full year ending 31 December 2016 to be approximately GBP1.0m, ahead of previous expectations of GBP0.5m.

Mark Taylor, Chairman of the Group, said:

"I am satisfied with our continued progress. Our team at Paragon has worked extremely hard over the last two years to grow the business while continuing to produce the quality and innovation that is expected of us as a market leader. This year we have also invested heavily in building capacity to prepare us for growth in the years ahead."

 
 For further information: 
 
  Paragon Entertainment Limited 
  Mark Taylor (Chairman) 
 
  finnCap Ltd                         01904 608020 
  Julian Blunt / Simon Hicks 
  (corporate finance) 
  Alice Lane (corporate broking)      020 7220 0500

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

About Paragon

Paragon Entertainment Limited (AIM:PEL) is an award winning provider of attraction services from initial design production and consulting through to the fit out and installation of themed attractions, heritage exhibits, museums, aquariums and water parks, inter alia. Paragon Entertainment is the holding company for Paragon Creative Limited.

The Group's projects have included:

   --     The build of Rolling Stones Exhibitionism at the Saatchi Gallery, London; 
   --     The design and build of Kidzania, London;

-- The design and build of galleries at the Olympic Museum for the IOC in Lausanne, Switzerland;

   --     The design and build of the galleries at The National Museum of Kazakhstan; 
   --     The design and build of Titanic Belfast; 
   --     The thematic build of the Wallace and Gromit ride at Blackpool Pleasure Beach;

The Group listed on AIM in 2011. Further information can be found at: http://www.paragonent.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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