Visitor attraction operator Merlin Entertainments has reportedly confirmed that it will float on the London Stock Exchange (LSE).

Nick Varney, Merlin's chief executive, told the Financial Times that the company will have to pick its time to go public, referring to the current uncertain economic environment.

"We are now talking to banks and saying an initial public offering is a strong option for us," he told the newspaper. "At the moment the markets are not conducive to doing that."

Varney suggested that the company is now looking at possible floating sometime during 2009, as the global markets are expected to stabilise.

The announcement came as the company announced its financial results – in compliance with the Walker Report, which aims to achieve greater transparency for private equity companies. Merlin is owned by US-based Blackstone.

Reporting its figures for 2007, Merlin announced a 9 per cent increase in like for like revenue for its core business and a 15 per cent rise in pre-tax profits.

Visitor numbers were up up 112 per cent, due to the acquisition of the Tussauds Group in March 2007.

Commenting on the results, Varney said: "It's been a very intensive 18 months and we are encouraged by these results. Blackstone's vision, financial strength and negotiating expertise have helped us become a world leader."