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Hollywood Bowl Group PLC - runs multi-lane ten-pin bowling and mini-golf centres - Says it has responded well to the challenges of the "unprecedented period of disruption". Revenue in the first five months of financial 2020, ended September 30, up 13% year on year, with like-for-like revenue up 9.4%. As of September 30, all but one of the company's centres is open and operating. Initial trading since reopening has exceeded expectations with revenue at 68% of prior year, although restricted capacity, 10pm curfews, localised lockdowns and smaller group sizes have significantly limited this performance, Hollywood Bowl said. Company expects to report a 39% decrease in year on year revenue to GBP79.5 million and encouragingly still deliver a marginal profit for the financial year, despite the impact of Covid-19 related government measures.
CEO Stephen Burns says: "I am very proud of the way our team has risen to the challenge of creating a safe environment which allows our customers to still enjoy the same fun filled experiences with us. The strong demand for bookings is very encouraging and the feedback we have received on our new Covid-secure operations has been excellent. We continue to explore new ways of working to increase our capacity at peak times whilst maintaining a safe and compliant environment."
Current stock price: 125.5 pence
Year-to-date change: down 56%
By Paul McGowan; paulmcgowan@alliancenews.com
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