Ten Entertainment Group PLC Full-Year Trading Update (8006Z)
January 15 2020 - 2:00AM
UK Regulatory
TIDMTEG
RNS Number : 8006Z
Ten Entertainment Group PLC
15 January 2020
15(th) January 2020
Ten Entertainment Group plc
Full-Year Trading Update
"Another year of significant profitable growth"
Ten Entertainment Group plc ("TEG" or "the Group"), a leading UK
based operator of 45 family entertainment centres, today announces
a trading update for the 52 weeks to 29(th) December 2019.
52 weeks
Half 1 Half 2 to 29 December
FY19 FY19 2019
--------------------------------------- ------- ------- ----------------
Sales (GBP000's) 41,444 42,678 84,122
Like-for-like sales change 7.4% 8.6% 8.0%
Sales growth from net new centres (1) 2.2% 2.1% 2.2%
Total sales change 9.6% 10.7% 10.2%
-- The Group performed well during the full year, achieving
total sales growth of 10.2% led by investment.
-- Like-for-like sales growth was 8.0%; an 8(th) consecutive year of growth.
-- 70% of the estate is now benefiting from the cost
efficiencies delivered through the Pins & Strings technology
re-engineering programme.
-- Four sites were refurbished in the year, including one prime
location that has received additional investment as a concept site
format to trial new entertainment experiences. All four sites are
performing strongly.
-- Manchester Printworks, our inaugural newbuild site, is
scheduled to open in the first half of 2020.
-- We continue to strengthen our pipeline of new site
opportunities through a blend of new developments and selected
acquisitions.
-- The Board anticipates that Group adjusted EBITDA for FY19
will be in line with market expectations.
TEG expects to announce its full-year results on 25(th) March
2020.
Duncan Garrood, Chief Executive Officer, commented:
"Ten Entertainment has had another strong year, delivering
profitable sales growth. Our ever-evolving offer, providing family
entertainment underpinned by tenpin bowling, is thoroughly enjoyed
by increasing numbers of customers.
We continue to innovate, increase our footprint and improve the
quality of our offering which positions us well for future
growth."
Enquiries:
Ten Entertainment Group plc via Instinctif
Duncan Garrood, Chief Executive Partners
Officer
Antony Smith, Chief Financial
Officer
Instinctif Partners Tel: 020 7457
Matthew Smallwood 2020
Jack Devoy
About Ten Entertainment Group plc
The Group is the second largest ten-pin bowling operator in the
UK market with a total of 45 sites trading under the Tenpin brand
and approximately 1,100 bowling lanes across the estate. The Group
also has a variety of other entertainment offerings, such as
amusement machines, table-tennis, soft play, escape rooms, laser
games and pool tables, plus food and beverages.
(1) Growth from net new centres represents the contribution from
two acquisitions completed during the year and a full year effect
of four acquisitions and one closure completed in 2018.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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