8th Oct 2019 09:44
(Alliance News) - Hollywood Bowl Group PLC said Tuesday it expects profit performance to be ahead of market expectations in its recently ended financial year.
For the year to the end of September, the ten-pin bowling operator's pretax profit is expected to rise in excess of 10% from GBP23.9 million the year before.
Meanwhile, revenue for the year grew by 7.7% from GBP120.5 million the prior year, while like-for-like revenue grew by 5.5%.
Hollywood Bowl said it has continued to make progress with new bowling centre openings and its refurbishment and rebrand programme.
In addition, Hollywood Bowl said it is considering returning additional capital to shareholders, and will give a further update on this when it publishes its annual results on December 13.
"I am delighted to report another year of strong financial and operational performance for the group. Our positive LFL revenue, with growth seen in all revenue streams, is underpinned by the consistent execution of our customer-led strategy," said Chief Executive Stephen Burns.
Shares in Hollywood Bowl were up 1.8% at 231.00 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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