10th Oct 2018 08:46
LONDON (Alliance News) - Hollywood Bowl Group PLC said Wednesday it expects profit and revenue for its recently ended financial year to increase in line with market expectations after a "robust" performance.
For the year ended September 30, the ten-pin bowling operator expects pretax profit growth of 10%. A year ago, pretax profit came in at GBP21.1 million, which would suggest a profit for the period of GBP23.2 million.
Meanwhile, revenue is expected to be 5.8% higher, 1.8% on a like-for-like basis, from GBP114.0 million a year ago. This would imply a total revenue of GBP120.6 million for financial 2018.
The company said it remains committed to invest in the business via its "ongoing cash generation", while also considering a return to shareholders.
Chief Executive Officer Stephen Burns said: "We are very pleased with our full year performance. We have delivered good results in line with expectations, through the effective execution of our customer led strategy which is underpinned by our capital expenditure programme."
Hollywood Bowl shares were trading up 4.3% at 209.58 pence each.
The firm will post its full-year results on December 10.
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