After a difficult start to the year, Goals Soccer Centres PLC (LON:GOAL) hit the back of the net with its more bullish outlook on Wednesday.
Shares in the five-a-side football pitches operator took a kicking after two profit warnings in March and July, as the ‘Beast from the East’ hit first-half sales.
READ: Goals yet to recover from bad weather
Not only did the cold weather stop players from turning out in February and March, but it also meant some of Goals’ regulars were forced to finish their 11-a-side seasons later than usual, meaning they weren’t around to play their usual 5-a-side as well.
Those issues caused the firm to swing to a loss of £1.1mln (H1 17: profit of £2.6mln) in the opening six months of 2018 as sales dropped to £16.2mln (H1 17: £17.4mln).
AIM-listed Goals, in which Sports Direct boss Mike Ashley holds a 19% stake, has reassured investors that those issues were now firmly in the past, with trading returning to normal and like-for-like sales for the year now positive.
“We are therefore optimistic with respect to the trading outlook for the remainder of the year,” read this morning’s statement.
Chief executive Andy Anson, who joined in April added: “I am greatly encouraged by our performance in recent weeks which has seen the business fully recoup the financial effects of the extreme weather and moved us into positive like-for-like sales territory for the year to date.”
Shares were up 6.3% to 75.5p in early deals on Wednesday.