8 October 2019
Hollywood Bowl Group plc
Trading update for the year ended 30 September 2019
ONGOING INVESTMENT IN CUSTOMER EXPERIENCE AND ESTATE DRIVING CONTINUED GROWTH
Hollywood Bowl Group, ("Hollywood Bowl" or the "Group"), the UK's largest ten-pin bowling operator, is pleased to announce another strong performance for the year to 30 September 2019.
The Group has continued to make progress with its customer-led strategy, delivering returns from product innovations, new centre openings and its refurbishment and rebrand programme.
Total revenue for the year grew 7.7% with like-for-like ("LFL") revenue growth of 5.5%. The Group expects to report profit before tax growth in excess of 10%, slightly ahead of market expectations.
The Group has maintained its strong financial position and continues to benefit from its highly cash generative core business model, combined with returns from its ongoing investment programme. The Board remains committed to investing in the business while considering the appropriate use of surplus capital to enhance shareholder returns.
Therefore, in line with the Group's capital allocation policy, the Board is considering returning additional capital to the Group's shareholders. A further update will be given in the Group's results announcement for the year ended 30 September 2019, on 13 December 2019.
Stephen Burns, Chief Executive, said:
"I am delighted to report another year of strong financial and operational performance for the Group. Our positive LFL revenue, with growth seen in all revenue streams, is underpinned by the consistent execution of our customer-led strategy. We continue to create value for all of our stakeholders, through the evolution of our great value family entertainment offering and returns generated on our investment in people and centres alike."
Hollywood Bowl Group
Stephen Burns, Chief Executive
Laurence Keen, Chief Financial Officer
Mat Hart, Chief Marketing and Technology Officer
via Tulchan Communications
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James Macey White
+44 (0) 207 353 4200
Notes to Editors:
Hollywood Bowl Group is the UK's largest ten-pin bowling operator, with a portfolio of 60 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 offering an average of 24 bowling lanes, on-site dining, licensed bars and state-of-the-art family games arcades.
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Quick facts: Hollywood Bowl Group
Market Cap: £4.49 m
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