Under-pressure five-a-side football pitches operator Goals Soccer Centres PLC (LON:GOAL) is to lose its CEO, with Mark Jones having announced his intention to resign to take up another role in the private sector.
In a statement, the small cap firm – which last month reported a sharp fall in first half profits amid concerns over the UK consumer environment – said it has already commenced the search for a “strong successor” and it will update on this process when appropriate.
The group added: “In order to further progress the strategic turnaround of the Company, Mark will continue in his role whilst his successor is sought.”
Goals’ first half results last month saw its pre-tax profits sink to £2.6mln, down from £3.5mln a year earlier on slightly higher sales of £17.4mln, up from £17mln.
The firm – which has 48 sites, including two in California in the US where it has a partnership deal with Premier League club Manchester City FC – said it first half operating costs increased to £12.5mln from £11.1mln as staff costs, higher business rates and a modernisation programme took their toll
In April, Goals had confirmed press reports that it is in talks with its rival Powerleague but said it that it is just one of the “strategic opportunities currently being assessed” by the group, but it has not provided any update on the talks since.
Adding to the pressure on the firm, back in August, Mike Ashley's Sports Direct International PLC (LON:SPD) nearly tripled its stake in the outdoor soccer centre operator to 75.2mln shares, representing a 15% stake, up from 4.8% held previously.