Ten Entertainment Group PLC (LSE:TEG) reported rising sales and profit but it wasn’t enough to stop the shares edging lower.
The operator of 49 social entertainment centres in the UK posted revenue £126.7mln in 53 weeks to 1 January 2023 compared to £67.5mln in the 52 weeks to December 26th, 2021.
Like for like sales improved 5.5% and pre-tax profit soared 188% to £34mln in the 53 week period from £4.4mln in 2021.
Basic earnings per share advanced to 38.9p from 5.9p and a final dividend of 7p was declared taking the total payout to 10p.
The company reported an encouraging start to 2023 with like for like sales growth in the first 10 weeks of 2023 of 2.7%.
The firm has held bowling prices and has 90% of utility costs fixed to September 2024.
Shares fell 1% to 282p in London on Wednesday.