16 Jan 2015 07:00
Goals Soccer Centres PLC
("Goals" or the "Company")
Post Close Trading Update
On course to deliver market expectations
Goals Soccer Centres PLC, the UK's premier operator of next generation outdoor 5-a-side soccer centres with 44 centres in the UK and one in Los Angeles, USA, is pleased to announce a trading update for the year ended 31 December 2014, in advance of the release of the Company's Final Results on 10 March 2015.
Trading for the year was in line with market expectations with sales increasing by 3% to £34.5m (2013: £33.8m). The operating profit margin was maintained and in line with expectations, notwithstanding a modest decrease in the gross margin resulting from higher sales growth in our ancilliary revenues than our core football.
During the year we acquired a centre in Newcastle which is trading in line with our expectations and commenced construction on new centres in Manchester and Doncaster. Goals Manchester is due to open in February 2015 and Goals Doncaster is scheduled to open in April 2015. All of these centres are in areas where Goals previously had no presence.
Our first centre in Los Angeles is well established and trading strongly. Its ongoing success supports the decision to roll-out further centres in California. Our US pipeline is progressing and we remain on track to open another US centre in financial year 2015.
Our innovative app was officially launched in November 2014 following extensive testing and the response from our customers has been encouraging. Approximately 10,000 customers have downloaded the app to date, slightly ahead of our plan, albeit we remain at an early stage. We intend to provide a more detailed update on the progress of the App at the full year results in March.
Goals is the leading UK operator in a well-established, resilient market, with opportunities for further organic growth in both the UK and the USA. With our strong balance sheet and exciting growth prospects the Board remains confident of continued progress in 2015 and beyond.
All figures quoted above are unaudited.
16 January 2015
Enquiries:
Goals Soccer Centres plc | 01355 234 800 |
Keith Rogers, Chief Executive | |
Bill Gow, Finance Director | |
Canaccord Genuity Limited (Nominated Adviser and Broker) | 020 7523 8350 |
Bruce Garrow | |
Chris Connors | |
Joe Weaving | |
Instinctif Partners | 020 7457 2020 |
Matthew Smallwood | |
Mark Reed |