Hollywood Bowl strikes file earnings amid new retailer openings

Hollywood Bowl reported file annual earnings and stated revenue would meet expectations, at the same time as the most popular UK spring and summer time on file saved clients away from its bowling alleys over the second half.

The operator of the UK’s and Canada’s largest ten-pin bowling chains stated whole earnings rose 4.3% to a file £261.6m within the yr to 30 September.

– Advertisement –

But its UK like-for-like gross sales fell 1.4% over the yr, with a pointy 5.6% drop within the second half because the extended scorching, dry climate drew individuals outdoor.

But its Canadian industry grew strongly, with earnings up 9%, helped by new centre openings.

The firm stated disciplined value management and versatile pricing had cushioned the climate’s influence, leaving it on observe to develop adjusted pre-tax revenue consistent with expectations. It ended the yr with internet money of £13.5m and accomplished a £2.9m share buyback.

Hollywood Bowl opened 4 new centres throughout the yr, taking its property to 95, and plans eight extra within the coming yr on the best way to a goal of 130 by 2033.

Stephen Burns, Chief Executive Officer, stated: “I’m happy that the elemental monetary and operational strengths of our underlying mannequin allowed us to ship important gross sales progress, even towards a difficult backdrop.”

“Demand remained resilient throughout the prolonged interval of file scorching climate within the UK, supported by our disciplined value and pricing mannequin, and our operational initiatives to drive footfall. Our inexpensive, inclusive proposition has continued to make sure we’re well-positioned in an setting the place shoppers are carefully watching what they spend.”