Hollywood Bowl sees FY profit slightly above market views
Hollywood Bowl said on Tuesday that full-year profit is likely to exceed market expectations and that it is considering returning additional capital to shareholders.
In an update for the year to 30 September, the 10-pin bowling operator hailed "another strong performance" and said pre-tax profit for the year was set to rise more than 10%, slightly ahead of market expectations.
Total revenue grew 7.7%, while like-for-like revenue was up 5.5%, it said.
"The group has maintained its strong financial position and continues to benefit from its highly cash generative core business model, combined with returns from its ongoing investment programme," it said, adding that it remains committed to investing in the business while considering the appropriate use of surplus capital to enhance shareholder returns.
Chief executive Stephen Burns said the company saw growth in all revenue streams, underpinned by "the consistent execution of our customer-led strategy".
"We continue to create value for all of our stakeholders, through the evolution of our great value family entertainment offering and returns generated on our investment in people and centres alike."
At 1430 BST, the shares were down 0.9% at 225p.