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The Markets
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The Markets
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Leisure, gaming and gambling

Hollywood Bowl mulls return of surplus cash to shareholders

The board remains committed to continuing to invest in the business through its ongoing cash generation, in addition to considering the appropriate use of surplus cash to enhance shareholder returns

Bowling alleys operator Hollywood Bowl Group PLC (LON:BOWL) is considering returning surplus cash to its shareholders.

In its trading update covering the year to the end of September, the leisure firm said it continues to benefit from significant cash generation.

Total revenue in the year grew 5.8% from a year earlier with like-for-like (LFL) revenue growth of +1.8%.

The group expects to report profit before tax growth of 10% for the year to 30 September 2018, in line with market expectations.

"We are very pleased with our full year performance. We have delivered good results in line with expectations, through the effective execution of our customer-led strategy which is underpinned by our capital expenditure programme,” said Stephen Burns, the chief executive officer of Hollywood Bowl.

“Our centre teams have worked very hard to ensure our customers continued to enjoy fun-filled, great value for money leisure experiences, whilst carefully managing costs and improving our margins," he added.

Shares in Hollywood Bowl were up 8% at 217p in early deals.

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