Hollywood Bowl strikes a solid full-year

Josh White Sharecast | 12 Oct, 2016 08:51 - Updated: 09:45 | | |

hollywood bowl tenpin bowling
  • 158.00
  • -0.16%-0.25
  • Max: 162.00
  • Min: 156.25
  • Volume: 14,817
  • MM 200 : n/a
17:18 21/07/17

Following the successful listing on the main market of the London Stock Exchange on 21 September, ten-pin bowling operator Hollywood Bowl Group posted a trading update for the year to 30 September on Wednesday.

The London-listed firm said it has traded well through the year recording like-for-like revenues up 6.4%.

Total revenues including the Bowlplex sites are up 22.0% over the prior year.

The strong like-for-like performance was driven by growth in the core estate, the centre refurbishment programme, an improved food and beverage offer and higher amusement spend, it explained.

Hollywood Bowl’s acquisition of Bowlplex continued to be successful, with the integration progressing as anticipated and the initial returns from the first three re-brandings continuing to deliver above original expectations, the board reported.

The company said it has a good pipeline of new centres in place, and is on schedule to open in the Southampton Watermark Development during December.

Its refurbishment programme continued to progress well with the Brighton rebrand due to be completed in time for the Christmas trading period.

“We are pleased to report another successful year for Hollywood Bowl Group,” said chief executive Stephen Burns.

“We have traded very well through the year and the customer response to our investments and offer has been encouraging.”

Burns said the company was continuing to make good progress with its refurbishment and Bowlplex rebranding programme.

“The board believes Hollywood Bowl has a very promising future and is focused on capitalising on the growth opportunities ahead as a listed company.”

More news

19:19 US close: Stocks edge lower ahead of Fed, White House in focus

Stocks drifted slightly lower ahead of the next US central bank policy meeting, weighed down by a poor outlook from industrial conglomerate General Electric and further negative news-flow swirling around the White House.

21 Jul Commodities: Increasing supply of oil weighs heavy on the market

An over supply of crude from Nigeria and Libya of approximately 1m barrels per day weighed heavily on the oil market on Friday with September contracts for both WTI crude and Brent crude down 2.28% and 2.29% respectively.

21 Jul Magnolia Petroleum announces divestment of North Dakota and Oklahoma wells

Magnolia Petroleum, an Oklahoma based oil and gas investment company, has divested and agreed farmouts over several wells in North Dakota and Oklahoma for a total of $411,000.

21 Jul Europe close: DAX dives on euro peaks and colluding carmakers

European stocks ended the week firmly in the red as the euro continued to march higher, with the strength in the single currency weighing on exporters and car makers were hit by reports of collusion in the industry, combining to send the Dax to new three-month lows.

21 Jul FX round-up: Lack of data release makes way for indecisive Cable moves

On Friday sterling managed to recover most of its losses against the US dollar from prior session posting a morning high of 1.3020, only managing to touch psychological resistance of 1.3000 briefly.

21 Jul London close: FTSE profit taking kicks shares into red

UK stocks were lacklustre on Friday as oil and stocks plunged but investors mulled yet more waxing and waning of Brexit negotiations, proving that uncertainty is the only certainty surrounding the issue.

21 Jul FTSE 100 movers: Paddy Power leads Friday retreat

London's FTSE 100 was in the red on Friday, along with stock benchmarks in Europe and the US.

21 Jul General Electric tumbles further as profits slide

US industrial giant General Electric reported net profits of $1.34bn for the second quarter of 2017, 53% less than its earnings for the same quarter in 2016.

21 Jul US open: Wall Street slips amid weak tech earnings, downbeat GE

Wall Street was slightly lower in early trading following disappointing updates from Microsoft and Ebay, alongside weak guidance from industrial conglomerate GE.

21 Jul Catalyst Media softens blow from failed Greyhound track bids

Retail betting service supplier Sports Information Services (SIS), in which Catalyst Media Group holds a 20.5% stake, has secured rights and media agreements for its greyhound and horseracing content.