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Butlin's has bounced back from a £75m loss to return to profitability during its most recent financial year, new figures show.

The holiday resort operator, which has sites in Bognor Regis in West Sussex, Minehead in Somerset and Skegness in Lincolnshire, recorded a pre-tax profit of £28.3m for 2024, according to fresh accounts lodged with Companies House.

This represents a turnaround after Butlin's plunged to a pre-tax loss of £74.2m for 2023.

The company's bottom line received a significant boost from a substantial revaluation of its resort properties worth tens of millions of pounds.

Its pre-tax profit was further underpinned by a considerable surge in operating profit to £41.8m, following a loss of £60.7m in 2022, as reported by .

However, despite returning to profitability, revenue declined in 2024 from £292.7m to £287.5m.

In its most recent accounts, Butlin's acknowledged that "the economic backdrop remains challenging" and noted that "demand for holidays in the º£½ÇÊÓƵ remained strong despite consumers facing challenging economic conditions across the year".

Butlin's chief executive Jon Hendry Pickup said: "This was a good year for our business as we continued to upgrade our facilities and multi-skill our more than four thousand team members nationwide."

He added: "Against a challenging macroeconomic backdrop characterised by high interest rates and dwindling consumer confidence, we produced a robust performance for 2024, with group revenue and total guest weeks stabilising.

"With Butlin's turning 90 in 2026, we're immensely proud of the role we've played in so many communities around the country.

"Our priority now is to continue investing in our resorts to ensure Butlin's guest proposition continues to be attractive for generations to come."

Butlin's was sold for £300m towards the end of 2022 to the Harris family, who jointly established Bourne Leisure in 1964.