Center Parcs expects poor results

Holiday village operator Center Parcs has warned of poorer-than-expected trading figures for 2004-05.

In a statement issued today, the company said that its sales had been below directors' expectations since start of the second half of the financial year (8 October).

Center Parcs, which operates four leisure villages in England, cited two factors for the slump.

First, it pointed to the one-week closure of its Oasis Whinfell complex, in Cumbria, in January because of flooding and high winds.

Second, Christmas fell on a weekend last year, resulting in lower occupancy levels over the festive period than in recent years.

The company's latest trading update is its last before it switches from the Alternative Investment Market to the London Stock Exchange on 1 March.

by Tom Bill

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