A RISE in turnover of almost 10 per cent at Flamingo Land has been attributed to the family run business's investment in new rides.

The theme park, zoo and holiday village business, based near Malton, has reported turnover of £22.54 million for the financial year ending March 31, 2014, up from £20.51 million the previous year.

In a report filed with Companies House, directors says rising revenues are a result of a £5.31 million captial expenditure during the year on new rides and attractions, with the theme park welcoming a "major new ride" in the form of Hero as well as investment in the Holiday Village Arena, a new Dino Stone area and a new tea rooms.

This followed a similar £2.65 million spend the earlier year, which saw the addition of rides Junior Twist and Vertical Swings.

Flamingo Land Resorts, which employs a team of more than 300 people, said the increase in turnover was the "key factor" in the leisure group reported a rise in operating profit for the year from £1.4 million to £2.17 million.

It said: "The directors aim to maintain the management policies which have resulted in the company’s growth in recent years.

"They plan to continue to invest in new rides and attractions as and when necessary to keep the theme park at the forefront of the sector of the leisure industry in which it operates."

The company's report said while there has been a reduction in repair costs, which reduced to £2.13 million from £2.59 million, they still continue to be "very significant" which the directors attribute to the "continual need to ensure that all of the facilities at this vast location are kept in good condition and comply with all relative health and safety standards".

Outlining risks and uncertainties, directors at Flamingo Land, which is run by the Gibb family with Gordon Gibb as chief executive, say keys business risk are in respect of the competitive leisure industry and the need to maintain a high standard of rides and attractions to satisfy customer demand.

The report said: "The directors are confident that the substantial levels of investment in the company carried out in recent years will enable the company to continue to trade profitably and intent to continue to add new rides and attractions.

"There are a number of other risks involved, including the need to ensure that the Health and Safety aspects of the park are maintained at the current high standards, and the vagaries of the British weather.

"In view of the risks and uncertainties the directors are aware that the development of the company may be influenced by factors outside their control.

"The directors anticipate that the business environment will remain competitive but they believe that the company is in a good financial position and they remain confident that the company will maintain its share of the leisure industry."

The financial report revealed the company made almost £50,000 in charitable and political donations during the year, up from nearly £20,000 the previous year.

They included £6,300 to local causes and £18,166 to a Wildlife conservation project in Tanzania, as well as a political donation of £25,000 made to the Conservative party.