Shares in XP Factory PLC (AIM:XPF) jumped 10.5% to 22.66p, close to a year’s high, as the Boom Battle Bar and Escape Hunt chain owner reported on a year of “outstanding growth” and first profit.
Revenue rose 228% to £22.8mln in the year, with 27 Boom sites open by the end of 2022, 11 owned and 16 franchised, while Escape Hunt numbers increased to 23 from 19 a year earlier.
A first underlying profit (EBITDA) of £2.7mln was reported, swinging from a loss of £0.6mln.
Cash stood at £3.2mln cash at year end and had risen to £4mln by the end of April.
In the new financial year, three Boom and one Escape Hunt sites are under construction, with existing Boom sites increasing like-for-like sales 44% in the first quarter and Escape Hunt 32%.
Chief executive Richard Harpham called 2022 “a transformational year” and said recent trading as a whole is “exceeding management expectations…The performance in Q1 gives us cause for optimism”.