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Olympic Business: The Winners and Losers of 2012

Olympic Business: The Winners and Losers of 2012

The London 2012 Olympic Games proved as much as competition for businesses as it did for the record-breaking Olympians who descended on the capital this summer.

Now that the party has officially left town, we take a look at the winners and losers of the race to capitalise on business opportunities, while the world watched.

THE WINNERS

ΓÇó Sports Direct ΓÇô 25% rise

Capitalising on its position as a sports retailer during in a landmark summer of athletic achievement, Sports Direct made a fantastic profit out of the Olympics this year. Sales rose by a staggering 25%, making this company the gold medal winner of London 2012.

ΓÇó Wetherspoons ΓÇô 12.8% rise

Good weather coupled with Olympic coverage helped Wetherspoons to rake in the dough this summer with a 12.8% rise on normal business. ItΓÇÖs pleasing to know that travellers from far and wide were partaking in one of the true English traditions ΓÇô having a pint at the pub.

ΓÇó Costa Coffee ΓÇô 5.7% rise

Those who werenΓÇÖt in the pub could apparently be found in the coffee shops of London during the Games, as Costa Coffee has reported an impressive 5.7% increase on sales in comparison to previous years.

ΓÇó Premier Inn ΓÇô 3.2% rise

Everyone who visited London this summer needed a place to stay and according to the budget luxury hotel chain, that place was Premier Inn. The company put prices up in London for the Games and recorded a 3.2% rise in profits.

THE LOSERS

ΓÇó Water Chariots – ┬ú2.5m lost

It might have seemed like a great idea at the time, but apparently no one wanted to take a boat up the Thames to the Olympic Stadium. A company set up to do just that in time for the Games has gone into administration with losses of £2.5 million.

ΓÇó Virgin Trains – ┬ú14m lost

Sadly for Richard Branson, while Olympic Authorities anticipated a £15m revenue as a direct result of transport to and from London 2012 the reality fell short. Despite extra services, Virgin Trains recorded just £1m in sales – resulting in a £14 million disappointment.

ΓÇó Disney – ┬ú30m+ unwatched

Having released a new film during the London 2012 Olympic Games, Disney expected viewing figures to be low. However, even after the Games the figures unexpectedly failed to rebound – resulting in more than £30 million of lost revenue.

• G4S – £145m unpaid

G4S is perhaps the most famous loser of business during the Olympics. Despite being selected to provide security for the Games under a £235m contract, G4S has only been paid £90m to date for failing to deliver on its promises – a loss of £145 million.

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Author: | September 19, 2012 | 0 Comments

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