INVERNESS-based Carlton Bingo said it sees some tentative signs of improved consumer spending despite another year of falling income
Turnover from its 14 clubs in Scotland and northern England fell slightly from £36.9 million to £36.8m in the year to December 31, 2011, which the company blamed on rising taxes.
Pre-tax profit plunged 82.1% to £1.2m last year as it only received a fraction of the £4m in over-paid value added tax that had boosted the bottom line in 2010.
Managing director Peter Perrins said there are signs of a slight improvement in consumer spending
However, he added: "The current economic data seems to indicate we still have a difficult time ahead of us and forecasting what will happen in the future is more akin to predicting the outcome of a game of bingo – lesser mortals like us cannot do it.
"What we do know is the Government's austerity measures will bite hard in 2012 and beyond and there has to be a realisation by the country at large, whether it be business, the media or the general public, that we have moved on from the banking crisis into a sovereign debt crisis [which] will affect the entire economy and population of the UK."
The firm complained the bingo sector, which was hit by the smoking ban, is paying more in tax than rival activities such as football pools and betting shops.
Financial director George Carter said: "The company remains happy to play its part in repairing the current fiscal deficit, but fails to understand whey the 'softer' end of gaming con-tinually justifies a harsher tax regime compared to its peers."
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