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Hollywood Bowl Group - Statement on COVID-19

RNS Number : 5173G
Hollywood Bowl Group plc
17 March 2020
 

HOLLYWOOD BOWL GROUP

 

STATEMENT ON COVID-19

 

Hollywood Bowl Group plc, ("Hollywood Bowl" or the "Group"), the UK's market leading ten-pin bowling operator, today provides an update in response to COVID-19.

 

The Group has traded well in the five months to 29 February 2020, with like for like sales growth of 9.0% and Group revenue increase of 12.5%.

 

At this time, the Group's centres continue to operate, however, with trading in recent days affected by COVID-19 and reflecting the rapidly changing circumstances and guidance, the business is preparing for a potential temporary closure. Appropriate measures have been put in place to reduce the impact on the Group, including cost reduction and capital expenditure projects. 

 

Our priority remains the health and wellbeing of our team members and customers and we are continuing to ensure we have the appropriate measures and precautions in place for their safety.

 

While the full implications of COVID-19 on the financial performance for the year ending 30 September 2020 are difficult to determine at this stage, the Board remains confident in the Group's prospects over the long term.

 

The information contained within this announcement is deemed by the Group to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.

 

 Enquiries:

 

Hollywood Bowl Group

Steve Burns, Chief Executive

Laurence Keen, Chief Financial Officer

Mat Hart, Chief Marketing and Technology Officer

via Tulchan Communications

 

 

 

Tulchan Communications

James Macey White

Elizabeth Snow

Amber Ahluwalia

+44 (0) 207 353 4200

 

 

 

Notes to Editors:

 

Hollywood Bowl Group is the UK's largest ten-pin bowling operator, with a high quality portfolio of 61 centres operating across the UK under the Hollywood Bowl, AMF and Puttstars (mini golf) 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 bowling lanes, on-site dining, licensed bars, and state-of-the-art family games arcades.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Hollywood Bowl Group

Price: 181.106

Market: LSE
Market Cap: £289.01 m
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