London Eye makes £25m profit

The London Eye made a record profit of £25 million last year, its owner said yesterday.

Merlin Entertainment said the 135-metre wheel, London's fourth highest structure, attracted 3.85 million passengers last year.

A surge in European visitors and an increase in the number of passengers booking pods for special occasions were among the factors hailed for the surge in profits.

Operating profits were up by 15 per cent to £24.68 million, the company said.

The figures, which cover the year to December 27, show total revenue was up six per cent at £52.04 million and revenue per visitor up eight per cent.

A half-hour trip on the London Eye, which can carry 800 pass-engers on each revolution, costs £17.50 for adults.

David Sharpe, divisional director for Merlin Entertainments London, said the London Eye had become a "global icon" over the past 10 years.

"Since opening in 2000, the London Eye has welcomed more than 35 million visitors - that is more visitors a year than the Taj Mahal and Pyramids of Giza and a true testament to its success," he said.

"The London Eye has become a global icon, recognised the world over and this new year's eve will be celebrating its 10th anniversary."

Mr Sharpe added: "Figures to date for 2009 have been encouraging in the first three quarters of the year, helped by a strong euro and UK visitors staying at home, planning days out in London."

Other London attractions, including the London Dungeon, Madame Tussauds and the Sea Life London Aquarium, were also performing well, he said.

He went on: "Encouraging profits in 2008 has allowed owners Merlin Entertainments Group to substantially re-invest in its London Eye attraction with the launch of an extremely popular £5 million 4D attraction, included in the London Eye ticket price, offering guests even better value for money."

A three-year £12.5 million upgrade of the Eye's 32 capsules will also be completed in time for the 2012 Olympics, he said.