15th Jan 2014 09:50
LONDON (Alliance News) - Goals Soccer Centres PLC Wednesday said that trading for the financial year just ended was in line with market expectations, with sales given a boost from a strong US performance.
In a post-close trading update, the company which operates 43 outdoor five-a-side soccer centres in the UK, and one in the US, said that overall sales for the year ended December 31, 2013 increased by 3.1% to GBP33.5 million, up from GBP32.5 million a year earlier, while like-for-like sales increased by 2%.
The group halted its store opening programme back in 2012 to focus on cash generation and enhancing return on capital. However it said that, depending on economic conditions, it intends to commence a controlled roll-out of additional centres from later this year.
The cash focus has helped the group reduce its net bank debt to GBP46 million on December 31, 2013, from GBP54 million on June 30, 2012.
Goals Soccer Centres said that it is looking to increase brand awareness with the help of social media, and it expects to launch its new app and website during the second quarter of the year.
Goals said it will release its final results on March 10.
Shares in the company were trading at 190.00 pence per shareWednesday morning, down 2.1%.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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