Hollywood Bowl Group PLC (LSE:BOWL) has said earnings should beat expectations this year after revenues hit a record.
Revenue climbed by 7.2% to £230.4 million over the year to September, Hollywood Bowl said on Monday, leaving pre-tax earnings on course to exceed £65 million.
This would be above company-compiled consensus expectations of £64.1 million, Hollywood Bowl noted.
“We are pleased with our full-year performance, both financially and operationally,” chief executive Stephen Burns commented.
“We have delivered further profitable growth, demonstrating the success of our proven, customer-led strategy.”
UK revenue increased by 3.8% to £199.7 million over the year, while turnover from Hollywood Bowl’s Canadian business surged 42.2% to £30.7 million.
This came as four sites were opened in Canada in 2024, alongside two in the UK, taking Hollywood Bowl’s total to 13 in the former and 85 overall.
Hollywood Bowl added this reflected record investment over the year, leaving net cash at £28.6 million as of September, against £52.4 million in late 2023, while the group also had an undrawn £25 million revolving credit facility.
“We remain confident in the long-term opportunity for future profitable growth across both the UK and Canada,” Burns added.
“Our strong cash position means we are well placed to continue to invest in our growth, increasing the size and quality of our estate and looking to continually enhance the customer experience.”
Full final results are due on December 17.