Hollywood Bowl Group PLC (LSE:BOWL) is continuing its expansion into Canada and plans to open and refurbish more sites in 2024.
The low-cost ten-pin retailer maintained its full-year dividend of 14.54p per share and launched a £10 million share buyback.
Sales lifted by 16% to £215 million and underlying profits increased by 11% to £82 million during the 12 months to October 2023.
Under the group's plans, a new site in Ontario will open next year, while an extra three North American sites are in legal processes ahead of launches.
Sites in Canada and seven alleys in the UK will also be refurbished, with the company set to introduce a new reservation platform across operations.
Stephen Burns, chief executive of Hollywood Bowl, said in a statement: “Innovation of our offer has led to growth across all our revenue lines while keeping our prices low, with a family of four able to bowl for £25.
“The strength of our balance sheet and our highly cash-generative business model supports our profitable growth strategy in the UK and Canada.
“Longer term, we see the opportunity to grow our estate to at least 130 centres.”
Shares were marked 2.2% higher at 288p in early trading on Monday morning.