Suitor hopes to bowl over Georgica

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Date: Tuesday 08 Jul 2008

LONDON (ShareCast) - Bowling alley operator Georgica is in talks that may lead to an offer for the group, but has seen same outlet sales fall 1.9% during the 26 weeks ended 29 June on a year ago.

It said discussions are at a preliminary stage and there is no guarantee that an offer will be made. If a satisfactory bid is not received the firm said it wants to return cash to shareholders.

Management expectations for EBITDA for the half year have been fulfilled, it added, while net debt at 29 June was £63,000.

“The company expects to generate sufficient cashflow from trading to fund its entire capital expenditure programme on an ongoing basis, including the opening of two new bowls later this year,” it said.

Half year results will be published at the end of July.

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