Profits at Titanic Belfast fell by almost a third in 2015, despite the amount a 2 per cent increase in visitors to the site.
In total, some 625,000 visitors entered the tourist attraction last year, three-quarters of whom were from outside Northern Ireland. According to Titanic Belfast Limited, that figure is almost 50,000 ahead of targets made by the company.
Despite the positive results regarding visitor numbers, profits declined due to a sharp increase in administrative costs, The Irish Times reports. Revenue, however, increased by 7 per cent to £11.7 million.
In its report, the company stated that Titanic Belfast has had an economic benefit to the area worth £105 million. "The appeal of the Titanic story, the quality of the visitor experience facilities and the professionalism of staff continues to drive consumer demand,” it added.
Opened in 2012, Titanic Belfast (pictured) is situated on the site of the former Harland & Wolff shipyard.
