Hollywood Bowl Group PLC (LSE:BOWL) has been one of this year’s unlikely winners given the gloom about the cost of living and economic uncertainty.
But it seems throwing a heavy ball down an alley at bits of wood is ideal stress relief, with the group stating in October that results for the year to September (due on 17 December) would be above market forecasts.
Revenues were a record £230 million putting earnings on course to top £65 million, compared to consensus forecast of £64.1 million.
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. Net cash was £28.6 million as of September.
At the time, broker ShoreCap said the update confirmed growth in the UK, despite increasingly tough comparatives, and further validated its expansion into Canada.
“The group remains on track to expand its estate to c130 centres over the next decade, which should deliver meaningful profit growth and returns to shareholders,” the broker added.