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.
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.
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 ┬ú2.5 million.
ΓÇó Virgin Trains – ┬ú14m lost
Sadly for Richard Branson, while Olympic Authorities anticipated a ┬ú15m revenue as a direct result of transport to and from London 2012 the reality fell short. Despite extra services, Virgin Trains recorded just ┬ú1m in sales ΓÇô resulting in a ┬ú14 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 ΓÇô resulting in more than ┬ú30 million of lost revenue.
ΓÇó G4S ΓÇô ┬ú145m unpaid
G4S is perhaps the most famous loser of business during the Olympics. Despite being selected to provide security for the Games under a ┬ú235m contract, G4S has only been paid ┬ú90m to date for failing to deliver on its promises ΓÇô a loss of ┬ú145 million.