Trading Statement

RNS Number : 4491D

Hollywood Bowl Group plc

10 October 2018

 

10^th October 2018

Hollywood Bowl Group plc

Trading update for the year ended 30 September 2018

CONTINUED REVENUE AND PROFIT GROWTH

DELIVERED THROUGH SUCCESSFUL EXECUTION OF STRATEGY

Hollywood Bowl Group, ("Hollywood Bowl" or the "Group"), the UK's largest ten-pin bowling operator, is pleased to announce another robust financial and operational performance which it expects to result in earnings for the year to 30 September 2018 being in line with market expectations.

The Group has continued to trade well driven by the successful execution of its strategy to invest in its centre refurbishment and rebrand programme and innovation of the customer experience.

Total revenue grew 5.8% with like-for-like ("LFL") revenue growth of +1.8%, and the Group expects to report profit before tax growth of 10% for the year to 30 September 2018, in line with market expectations.

Capital return

The Group continues to benefit from the significant cash generation and returns from both its ongoing investment programme and core business.  The Board remains committed to continuing to invest in the business through its ongoing cash generation, in addition to considering the appropriate use of surplus cash to enhance shareholder returns.  Therefore, in line with the capital structure and cash allocation priorities outlined in the Group's FY2017 results announcement, the Board is considering returning additional capital to the Group's shareholders.  A further update will be given in the Group's FY2018 results announcement, which is expected to be published on 10 December 2018.

Stephen Burns, Chief Executive Officer of Hollywood Bowl Group, 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. Our centre teams have worked very hard to ensure our customers continued to enjoy fun-filled, great value for money leisure experiences, whilst carefully managing costs and improving our margins." 

Enquiries:

Hollywood Bowl Group Steve Burns, Chief Executive Laurence Keen, Chief Financial Officer Mat Hart, Commercial Director	via Tulchan Communications
Tulchan Communications James Macey White Elizabeth Snow Roger Tejwani	[phone]

Notes to Editors:

Hollywood Bowl Group is the UK's largest ten-pin bowling operator, with a portfolio of 58 centres operating across the UK under the Hollywood Bowl and AMF brands. The Group specialises in operating large, high quality bowling centres, predominantly located in out of town multi-use leisure parks (typically co-located with cinema and casual dining sites) and large retail parks. The centres are designed to offer a complete family entertainment experience with each centre offering at least 12 bowling lanes, on-site dining, licensed bars, and state-of-the-art family games arcades.

 

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