Hollywood Bowl Group plc Trading Statement (1896K)
April 09 2018 - 2:25AM
UK Regulatory
TIDMBOWL
RNS Number : 1896K
Hollywood Bowl Group plc
09 April 2018
9 April 2018
Hollywood Bowl Group plc
("Hollywood Bowl" or the "Group")
Half Year Trading Update
Strong revenue growth with good progress in new centre
programme
Hollywood Bowl, the UK's largest ten-pin bowling operator, is
pleased to announce a trading update for the six months ended 31
March 2018.
The Group has traded well through the first half of the
financial year with total revenue growth of +9.3% and like-for-like
("LFL") revenue growth of +4.0%.
This continued strong LFL performance has been driven by the
ongoing successful execution of our organic growth strategy of
investment in enhancing our customer experience. This has included
the refurbishment of Bradford Hollywood Bowl and the rebrand and
refurbishment of Bowlplex centres in Birmingham and
Dunfermline.
New centre programme
We continue to expand our nationwide portfolio and customer
reach with our 58(th) and 59(th) centres opening in Dagenham and
Yeovil, both of which are performing in line with management's
expectations.
In addition, the Group's new centre pipeline has been further
strengthened with centres signed for development in exciting new
leisure schemes in Swindon and Southend.
Stephen Burns, Chief Executive Officer of Hollywood Bowl Group,
said:
"We are pleased with our half year performance, with results in
line with our expectations. The Group had another very successful
Christmas, delivering LFL sales growth for the sixth consecutive
year over this important trading period.
"Our teams are focused on maximising the opportunities created
by our ongoing refurbishment and new centre programme in the second
half of the year and continuing to deliver great value experiences
for our customers across our estate."
The Group expects to report its interim results for the six
months ended 31 March 2018 on Wednesday 23 May 2018.
Enquiries:
Hollywood Bowl Group via Tulchan
Steve Burns, Chief Executive Communications
Laurence Keen, Chief Financial Officer
Mat Hart, Commercial Director
Tulchan Communications
James Macey White +44 (0) 207
Elizabeth Snow 353 4200
Notes to Editors:
Hollywood Bowl is the UK's largest ten-pin bowling operator,
with a high quality portfolio of 59 profitable centres operating
across the UK under the Hollywood Bowl, AMF and Bowlplex 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 with each centre offering
bowling lanes, on-site dining, licensed bars, and state-of-the-art
family games arcades.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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