Hollywood Bowl Group plc Trading Statement (9836O)
October 08 2019 - 2:00AM
UK Regulatory
TIDMBOWL
RNS Number : 9836O
Hollywood Bowl Group plc
08 October 2019
8 October 2019
Hollywood Bowl Group plc
Trading update for the year ended 30 September 2019
ONGOING INVESTMENT IN CUSTOMER EXPERIENCE AND ESTATE DRIVING
CONTINUED GROWTH
Hollywood Bowl Group, ("Hollywood Bowl" or the "Group"), the
UK's largest ten-pin bowling operator, is pleased to announce
another strong performance for the year to 30 September 2019.
The Group has continued to make progress with its customer-led
strategy, delivering returns from product innovations, new centre
openings and its refurbishment and rebrand programme.
Total revenue for the year grew 7.7% with like-for-like ("LFL")
revenue growth of 5.5%. The Group expects to report profit before
tax growth in excess of 10%, slightly ahead of market
expectations.
Capital return
The Group has maintained its strong financial position and
continues to benefit from its highly cash generative core business
model, combined with returns from its ongoing investment programme.
The Board remains committed to investing in the business while
considering the appropriate use of surplus capital to enhance
shareholder returns.
Therefore, in line with the Group's capital allocation policy,
the Board is considering returning additional capital to the
Group's shareholders. A further update will be given in the Group's
results announcement for the year ended 30 September 2019, on 13
December 2019.
Stephen Burns, Chief Executive, said:
"I am delighted to report another year of strong financial and
operational performance for the Group. Our positive LFL revenue,
with growth seen in all revenue streams, is underpinned by the
consistent execution of our customer-led strategy. We continue to
create value for all of our stakeholders, through the evolution of
our great value family entertainment offering and returns generated
on our investment in people and centres alike."
Enquiries: via Tulchan Communications
Hollywood Bowl Group
Stephen Burns, Chief Executive
Laurence Keen, Chief Financial Officer
Mat Hart, Chief Marketing and Technology
Officer
Tulchan Communications
James Macey White
Elizabeth Snow
Amber Ahluwalia +44 (0) 207 353 4200
Notes to Editors:
Hollywood Bowl Group is the UK's largest ten-pin bowling
operator, with a portfolio of 60 centres operating across the UK
under the Hollywood Bowl and AMF brands. The Group specialises in
operating large, high quality bowling centres, predominantly
located in out of town multi-use leisure parks (typically
co-located with cinema and casual dining sites) and large retail
parks. The centres are designed to offer a complete family
entertainment experience offering an average of 24 bowling lanes,
on-site dining, licensed bars and state-of-the-art family games
arcades.
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END
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