Record annual sales masked a bruising summer for the bowling operator's UK estate as scorching weather kept families outdoors.
Hollywood Bowl Group (LSE: BOWL) posted record annual revenue of £261.6m, up 4.3% on the year to 30 September, as strong growth in Canada offset a weather-hit slowdown at its UK bowling alleys, with the company saying profit remains on track to meet market expectations.
The record top line came despite UK like-for-like sales falling 1.4% over the full year, with a steeper 5.6% decline in the second half as the UK's hottest and driest spring and summer on record drew customers outdoors and away from its venues.
Hollywood Bowl's Canadian operations proved the standout performer, with revenue there climbing 9%, boosted by new centre openings as the group continues to expand its North American footprint alongside its UK estate.
The company said disciplined cost control and flexible pricing had helped protect profitability through the weak summer trading period, with the business also ending the year in a solid financial position, holding net cash of £13.5m after completing a £2.9m share buyback. Chief executive Stephen Burns credited the group's 'affordable, inclusive proposition' for keeping demand resilient even as households watch their spending closely.
Looking ahead, Hollywood Bowl added four new centres during the year to take its estate to 95 and plans a further eight openings in the coming year, part of a long-term target of reaching 130 centres by 2033. Investors will be watching whether milder weather and continued expansion can restore UK like-for-like growth in the current financial year.
This report is based on Hollywood Bowl Group’s announcement and coverage by UK Investor Magazine. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full markets calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Bruno Guerrero on Unsplash.
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