21st Oct 2024 08:55
(Alliance News) - Hollywood Bowl Group PLC on Monday raised its full-year outlook after reporting strong demand, particularly in Canada.
In a trading update, the ten-pin bowling operator said revenue rose 7.2% to a record GBP230.4 million for the financial year to September 30 from a year prior.
UK total revenue increased 3.8% to GBP199.7 million from a year ago. In Canada, revenue leapt 42% to around GBP30.7 million on a constant currency basis.
On a like-for-like basis, revenue grew 0.2%, with UK LFL sales flat and Canada LFL sales up 5.9%.
As a result, Hollywood Bowl expects to report earnings before interest, tax, depreciation and amortisation ahead of market expectations and in excess of GBP65.0 million.
The company said company compiled consensus forecast full-year Ebitda pre-IFRS 16 of GBP64.1 million.
In the year to September 2023, the firm reported adjusted Ebitda pre-IFRS of GBP64.9 million.
Chief Executive Stephen Burns said: "We are pleased with our full year performance, both financially and operationally. We have delivered further profitable growth, demonstrating the success of our proven, customer-led strategy. We have continued to grow our estate in the UK and Canada and drive strong returns through the ongoing investment in our centres."
"We remain confident in the long-term opportunity for future profitable growth across both the UK and Canada."
Hollywood Bowl expects to publish its annual results on December 17.
Shares in Hollywood Bowl rose 2.6% to 333.50 pence each in London on Monday morning.
By Jeremy Cutler, Alliance News reporter
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