Go Ape’s Financial Performance Declines After Post-Pandemic Boom
Go Ape’s financial results reflect a downturn following the surge in demand experienced as the UK emerged from COVID-19 lockdowns.
The adventure group, based in Bury St Edmunds, Suffolk, reported a revenue drop of eight percent in 2023, totaling £27.5 million. This decline follows a 27 percent revenue decrease in 2022.
The company’s visitor numbers also fell by eight percent to 1.2 million, a drop attributed to the exceptionally high demand experienced in 2021 and continued into 2022. The decline in visitor numbers was 16 percent in 2022.
Newly-released accounts from Companies House reveal that Go Ape’s pre-tax profit plummeted from £10.9 million to £3.5 million in 2023.
Despite the financial challenges, Go Ape expanded by opening two new locations in Blackburn, Lancashire, and Chelmsford, Essex, and increased its average workforce from 898 to 968 employees.
Founded in 2002 by Tristram and Rebecca Mayhew, Go Ape has been employee-owned since 2021, with the employee ownership trust holding a 90 percent stake, while Tristram and Rebecca Mayhew retain five percent each.
Earlier this year, Tristram Mayhew, a former Army captain, was honored with an MBE in the King’s Birthday Honours for his contributions to youth empowerment.
Read more: Hamleys: World’s Oldest Toy Store Shutters 40 Loss-Making Shops Amid Declining Sales
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Go Ape’s Financial Performance Declines After Post-Pandemic Boom
Go Ape’s financial results reflect a downturn following the surge in demand experienced as the UK emerged from COVID-19 lockdowns.
The adventure group, based in Bury St Edmunds, Suffolk, reported a revenue drop of eight percent in 2023, totaling £27.5 million. This decline follows a 27 percent revenue decrease in 2022.
The company’s visitor numbers also fell by eight percent to 1.2 million, a drop attributed to the exceptionally high demand experienced in 2021 and continued into 2022. The decline in visitor numbers was 16 percent in 2022.
Newly-released accounts from Companies House reveal that Go Ape’s pre-tax profit plummeted from £10.9 million to £3.5 million in 2023.
Despite the financial challenges, Go Ape expanded by opening two new locations in Blackburn, Lancashire, and Chelmsford, Essex, and increased its average workforce from 898 to 968 employees.
Founded in 2002 by Tristram and Rebecca Mayhew, Go Ape has been employee-owned since 2021, with the employee ownership trust holding a 90 percent stake, while Tristram and Rebecca Mayhew retain five percent each.
Earlier this year, Tristram Mayhew, a former Army captain, was honored with an MBE in the King’s Birthday Honours for his contributions to youth empowerment.
Read more: Hamleys: World’s Oldest Toy Store Shutters 40 Loss-Making Shops Amid Declining Sales