(Alliance News) - Ten Entertainment Group PLC announced on Thursday it delivered record profit in each month since June as it recovered from the impact of the pandemic.
For the year ended December 26, the London-based ten-pin bowling centre operator said it delivered a return to full-year profit. It had posted a pretax loss of GBP21.7 million for the year ended December 27, 2020.
Despite facing closures for over a third of the year, Ten Entertainment said that total group sales stood at GBP67 million.
The company said that sales growth was at 32% since May compared to its last pre-pandemic figure in financial 2019.
Ten Entertainment said that once restrictions were fully lifted on July 19, sales and profit increased to record levels and were consistently strong for the balance of the year.
The company added that trading during December had remained promising, but there had been some softening of demand from large groups and parties. Ten Entertainment cited government messaging around Covid-19 and the impact of constraints in Wales and Scotland for the drop.
Going forward, the company said it intends to open at least four centres in financial 2022, adding that several were in advanced stages of negotiation.
Ten Entertainment said its view to financial 2022 remains optimistic, but that is dependent on the government response to Covid concerns.
The company plans to release its full-year results on March 29.
Shares in Ten Entertainment were up 4.7% at 257.65 pence on Thursday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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