3 Jul 2013 07:00
Goals Soccer Centres plc
('Goals' or 'The Company')
Post Close Trading Update
Goals Soccer Centres plc, the UK's premier operator of next generation outdoor 5-a-side soccer centres with 43 centres in the UK and one in Los Angeles, USA, is pleased to announce a trading update for the six months ended 30 June 2013, in advance of the release of the Company's interim results on 3rd September 2013.
Although the consumer environment remains challenging and despite some adverse weather in January and March, the established Goals concept continues to demonstrate its resilience with demand for five-a-side football remaining strong and like for like sales showing a marginal increase.
Having achieved a national footprint and critical mass the Board have implemented a strategy focusing on operational excellence to improve returns from the opportunity presented by the immaturity in the business. Our Operational and Organisational reviews are well advanced and, whilst they have added costs, we expect these initiatives to have a positive impact on trading for the remainder of the year. Due to this planned investment, profits for the first six months are marginally behind last year, in line with management expectations. The Board remain confident that the Company will trade in line with market expectations for the year ending 31 December 2013.
Our strategic focus of improving individual centre returns and reducing net debt, while consistently providing an excellent customer experience, continues to deliver. Net debt has reduced by 10% over the last 12 months from £53.9m at 30 June 2012 to £48.5m at the period end.
Goals has been able to benefit from new and exciting marketing opportunities. On 26 February, Goals announced that it had entered into a three year exclusive brand partnership with talkSPORT, the UK's biggest national commercial sports radio station. Through a number of innovative marketing initiatives, utilising both radio and social media, Goals has seen a sustained increase in the level of new player enquiries.
Goals is in talks with a number of potential new brand partners and will update the market on progress as appropriate.
Goals Chester, the first modular build site, has now been open for over 12 months and continues to perform as expected, delivering the same high quality customer experience at significantly reduced development cost. The Board reiterates its intention to restart the roll-out programme in 2014 with one site already identified.
The Board remains confident of continued progress throughout the remainder of 2013.
3 July 2013
Enquiries:
Goals Soccer Centres plc | Today: 020 7457 2020 |
Keith Rogers, Managing Director | Thereafter: 01355 234 800 |
Bill Gow, Finance Director | |
Canaccord Genuity | Tel: 020 7523 8350 |
Bruce Garrow | |
Adam Miller | |
College Hill | Tel: 020 7457 2020 |
Matthew Smallwood | |
Jamie Ramsay |