Paragon celebrates record orders
PARAGON Entertainment has secured a record order book worth £11.7m for the next 15 months.
The York-based business today reported first half revenues of £2.29m, its first results since its admission to the AIM market last December.
It has secured contracts to revamp The Olympic Museum in Switzerland, create a new visitor gallery at Halifax children’s museum Eureka! and a new Wallace and Gromit themed ride at Blackpool Pleasure Beach.
Paragon specialises in designing and building models and displays for museums and visitor attractions and is looking to own and operate its own attractions or manage them on behalf of third parties.
Chief executive Mark Pyrah said: “We have made significant progress since our admission to AIM last December. Throughout this year, the ‘Design and Build’ segment has continued to deliver on existing projects and win substantial new contracts; in particular, we were delighted to announce winning a £4.8m contract with The Olympic Museum in Lausanne, Switzerland.
“The successful conversion of our pipeline has created a record contracted order book for the company going forwards. In addition, our prospective pipeline has doubled in size and we are confident of converting this into new contracts.
“We have continued to progress the identification of suitable locations for the development of a range of proprietary attractions and we expect to open our first attractions before year end.”
The first half saw Paragon complete projects at the new Titanic attraction in Belfast and ‘Chocolate – York’s Sweet Story’ in York among others.
