Accounts just published showed the historic fun park made losses of almost £4m in the year to April 5 2009.

But management at the Pleasure Beach – which introduced a controversial £5 admission charge last year – says it is on track to turn the attraction's fortunes around.

Poor weather and the recession have been blamed for the 2008 losses which totalled £3.9m, and were in stark comparison to profits of £4m the previous year.

Since 2008, a review of operations at the park has been held and a return to profit is expected this year after savings of £3.5m were identified.

The profit in the previous year was boosted by asset sales.

The Big Blue hotel enjoyed improved sales and profitability.

A Pleasure Beach spokesman said: "Following a well-publicised disappointing season in 2008, Pleasure Beach introduced a new business model.

"This has been rigidly adhered to through these tough economic times and our new pricing policy has delivered a significant turnaround in business performance.

"We are looking forward to a successful 2010 season which starts on Saturday February 13 to coincide with the start of the February half term and Blackpool's Showzam festival."

The £5 admission charge was introduced in February 2009.

There was no Hot Ice show or circus-themed Forbidden throughout last year.

For more on this story, see Tuesday's Gazette.