16 Jan 2017 07:00
Goals Soccer Centres PLC ("Goals" or the "Group")
Post Close Trading Update
Goals Soccer Centres PLC, a leading operator of outdoor small-sided soccer centres with 47 sites, including one in California, USA is pleased to announce a trading update for the year ended 31 December 2016 in advance of the release of the Company's final results on 21 March 2017.
Group sales for the year increased by 1.3% to £33.4m (2015: £33.0m), with like-for-like sales growing by 0.6% (H1 2016: -1.9%), broadly in-line with market expectations. This performance further demonstrates the significant improvement which has taken place within the business during the second half of the year.
Additionally, football volume stabilised and ended the year positively, recording a year-on-year increase of approximately 1%, which was aided by a strong second half performance of +3.1% and reflects an improved customer experience, driven by the Arena modernisation programme, with upgraded ProTurf pitches, new LED lighting systems and renewed stadia boards which saw 136 pitches upgraded during the period.
With our robust trading driven by the implementation of our strategic plan, a strong balance sheet and solid growth prospects, we look forward to delivering continued progress in 2017, as we move our focus to upgrading our UK clubhouses to the new Clubhouse 2020 format and the opening of our second centre in the US in February 2017. We look forward to the future with growing confidence.
The Company also announces that Keith Rogers, an executive director, has stepped down from the Board. Mark Jones CEO said "On behalf of the Company I would like to acknowledge and express our sincere gratitude to Keith for his invaluable and constructive contribution to the Board over the years and we wish him well in the future".
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Nick Basing, Chairman of Goals, said:
"I am positive that we have turned the corner with this result. The new refocused strategy under strong new executive leadership is working and I hope momentum will build further in 2017".
16 January 2017
Enquiries:
Goals Soccer Centres plc Mark Jones, Chief Executive Officer Bill Gow, Chief Financial Officer | 01355 234 800 |
Canaccord Genuity Limited (Nominated Adviser and Broker) Bruce Garrow Chris Connors Richard Andrews | 020 7523 8350 |
Instinctif Partners Matthew Smallwood Guy Scarborough | 020 7457 2020 |