Ten Entertainment strikes it rich after expanding bowling offer

Ten-pin bowling company Ten Entertainment Group said profits would be at the top end of expectations after diversifying its sales offering helped shielded sales from losses suffered on other sectors of the leisure industry.

Total sales total grew 8.9% to £71m in the calendar year with like-for-like sales in the second half of the year up 7% year-on-year, with comparable sales over the twelve month period moving ahead 3.6%.

Ten made moves to expand the size of its overall estate throughout the year, acquiring three new sites and shutting the door on one underperforming venue, while also expanding it sales mix on top of bowling with karaoke and arcades, and a wider food and drink offering.

The group expected that full-year adjusted EBITDA would be at the top range of market expectations when it released results for the period on 21 March.

"I am particularly encouraged by the business transformation opportunity of the innovative Pins & Strings technology, expanded into a further five sites during the second half of the year," said chief executive Alan Hand.

"This technology is transforming the experience for our customers as well as improving the dynamics of our business model. In addition, we have made further improvements to the quality of the customer experience, through our highly committed and engaged colleagues."

As of 1340 GMT, shares had slipped just 0.35% to 262.08p.