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Great top line & margins. We need to see profit and move to profitability. If the full year meets expectations again and if the bottom line is starting to look good then I think we’ll start to see the re-rating. At that point it would be hard to ignore…. Failing that I’d just sit tight another year!
Sad SP rise on such a good rns
Been holding these for a couple of years now and after a very good TU i thought it would have created some interest in the shares but as usual nothing. Good luck all.
In terms of 2024/25 numbers clearly Boom will be the driver. If 12 months revenues increase by 20%, which feels quite conservative, that's c£33m rev. If the current EBITDA margin of 20% increases to 25% that's £8.25m. At 30% that's c£10m.
Add in maybe £6m from Escape Hunt and that shows the growth potential over the next 12 months.
Yep, good numbers, as expected. A little more detail would be nice, but this is only a trading update, the detail will arrive in March.
Escape Hunt , which is more mature shows where Boom should be in a year or so as sites become more established.
40% EBITDA for Escape is quite impressive. Boom was 19% for H1 so let's say 20% for the 12 months.
Based on this the Hunt EBITDA is £5.2m and Boom £5.5m, totally £10.7m.
I believe that is ahead of the £10m market guidance, and show how undervalued this is.
Boom should continue to increase revenues and EBITDA steadily through 2024 as some of the locations were only opened in 2023 and buying a few franchised sites seems will also increase revenues and seems a sensible approach.
The RNS speaks for itself - so I won't go into lots of detail.
I love the inclusion of the words 'exceptiona', 'very strong' 'delighted' and 'notable increase' are all words reserved for only the very besy RNS updates. These are audited documents and words matter
'strong operating leverage in H2 2023'
This effectivley says that their cost base stayed boradly stable in H2 but they were able to increase EBITDA / Profit by increasing revenue.
I've discussed on here before why I thought H2 would be so strong for this compnay:
Both brands will naturally be more in demand in Q4
Not only does footfall increase massively: (1) They can fill ordinarily quiet times with lucrative corporate bookings and (2) they can charge more for group bookings in Q4 because of the significant demand for Xmas parties.
Personally, my eyes are on the growing EBITDA performance.
However, I know some like to look at Net Profit/Loss. XPF made a loss of £1.5m in H1. But with H2 revenue up +38% vs H1 - I would expect them to show a profit for the 12 months. (As i expect the extra £7-8m to tranlate to £3-5m additonal EBITDA given the 'strong operation leverage statement'
Final comment - the success here is two-fold. They have two great assets in the Escape Hunt and Boom brands. But, for me, It's the people that make this business; (1)the leadership and head office have laid the foundations and (2) the amazing people in the field giving blood, sweat, tears, smiles, endless enthiusiasm and energy to their roles.
Well done Team XP
Wow. Very pleased with that growth. At this early stage of booms cycle that is the most important metric imo. And great to see the more mature business, escape hunt still showing growth.
I love the fact they had a record Xmas. Compound the growth with their excellent reviews you can absolutely assume that customers will not only come again but they’ll tell everyone about their great experience and create a “flywheel” effect creating more growth. Experiential leisure is certainly a growing market and Xpf is best placed to benefit.
Don't panic over sells. Canncord own 17% remember they will use this FANTASTIC update an liquidity event to reduce position
Just a trading update, but very welcome, great growth!
Definitely could have done with a summary of the cash position (although I believe it is at least cash neutral if not now cash positive) but in terms of trading performance these are excellent figures. Hopefully the market starts to recognise the value as current SP isn’t far off the all time low even though trading is booming (pun intended). Let’s hope the SP can escape (geddit) this low
Good Update, but not unexpected, would have liked a bit more flesh on the bones, perhaps with plans for coming year, and how much cash on the balance sheet, or even if they are profitable overall. Encouraging to know they brought back the franchises of Glasgow and Liverpool, this will help with leverage going forward. Slightly underwhelmed by the TU. Still a fantastic business going forward I believe .
I’m sure with a more outgoing CEO who regularly updates the investment community this share could be a lot different.
My sentiments exactly, Malco. All reports are excellent yet the sp continues to languish.
Another pub/food chain, Mitchell and Butler, has just reported impressive numbers for the Christmas period. In fact i think every pub/food company that has reported in the last few weeks has traded well. Hopefully this will bode well for XPF
This company needs to start promoting itself and talking to investors. Bi monthly updates/ news letters would be nice. Apart from the finals and interims nothing ever seems to come out of this company. The share price continually languishes near the lows with no news to help drive it up. Even if good results come out the share price creeps up for a few days and then falls again. When I invested I thought this would fly but now looks like one to lose in the bottom drawer.
Come on XPF, promote yourself.
Not in my book Billybamboozle.
I'm extremely confident in my research - and the recent LinkeIn insight was an added bonus
I think next week's (or sooner?) trading update will show that performance is ahead of management expectations, I think we may see a FY Profit and the revenue growth will be phenomenal
Really impressed with everything I've observed about people culture and I see they are massively increasing their field sales team to drive events.
The SP howvere has been a damp quib - but given the performance of the company I expect it to wake up soon and when it does I am hoping for big things.
At the current mCap - I see this company as a juicy target for Private Equity or a bigger competitor in the same or adjacent sector
After all the excellent reports, Is this now dead?
False market makers, manufacturing SP, corrupt AIM….
JD Weatherspoons has had an upgrade because of strong Christmas trading. Here at XPF the share price keeps slipping. Something doesn’t add up.
I expect to see record breaking, fantastic numbers.
I'd like to hear about their growth plans for 2024
LinkedIn alluded to several new and exciting updates in the pipeline
I think this is a bit of a shake before the big update
Last years trading update was 25th January and year before 26th Jan. So I expect one around these dates. And expect to see record breaking numbers.
Both RBG and Nightcap have announced good xmas trading, albeit a mixed 6 months as a whole.
I know these are not direct competitors for Boom Battle but shows that people were spending in the lead up to Christmas. Really expecting XPF to announce impressive numbers as many of these locations will have had their first 'proper' xmas trading period and we know corporate bookings have been significant.
Alas the SP doesn't seem to want to go anywhere
Just noticed xpf have placed nothing on X (Twitter ) since 2021. I know they use LinkedIn occasionally but surely X has a much larger audience?
Malco. I concur!
This company needs to start promoting itself and talking to investors. Bi monthly updates/ news letters would be nice. Apart from the finals and interims nothing ever seems to come out of this company. The share price continually languishes near the lows with no news to help drive it up. Even if good results come out the share price creeps up for a few days and then falls again. When I invested I thought this would fly but now looks like one to lose in the bottom drawer.
Come on XPF, promote yourself.