9 Jul 2015 07:00
Goals Soccer Centres plc
('Goals' or 'The Company')
Trading Update
Goals Soccer Centres plc, the UK's premier operator of next generation outdoor 5-a-side soccer centres with 46 centres in the UK and one in Los Angeles, USA, announces a trading update for the six months ended 30 June 2015, in advance of the release of the Company's interim results on 9 September 2015.
Group sales for the period were in-line with last year at £17.1m (2014: £17.1m), with Group like-for-like sales down by 1%. UK like-for-like sales declined by 2% as a result of adverse weather conditions in the first quarter as compared to last year and some softness in the casual market. Trading strengthened during Q2, although not sufficiently to fully recover the Q1 shortfall.
The US business continues to perform strongly with like-for-like sales increasing by 20% as the centre's popularity increases, reinforcing our confidence in our planned US roll-out. The US site pipeline is developing, with legals concluded, planning consent achieved and building permits at an advanced stage on one site with construction due to commence in the second half of the year. Heads of terms are agreed and legals commenced on a further three sites. Following the recent appointment of our US Development Director we expect progress to gather further momentum.
During the period the Group opened new centres in Manchester and Doncaster and construction is due to commence on an additional UK centre in the second half of the year.
Take-up of the new mobile app continues to build, with total downloads in excess of 30,000 and are still increasing on a weekly basis. Use of player blasts has been one of the most used features, which has helped to reduce cancellations by sourcing additional players, who are 'up for a game.' A new app loyalty scheme is being developed to accelerate greater take-up of other features.
Keith Rogers, Managing Director, said:
"Our UK performance, against some tough comparatives, has been slightly below our expectations. However, we are very encouraged by the ongoing strength in US trading which supports our development programme in the Los Angeles area."
All figures quoted above are unaudited.
9 July 2015
Enquiries: Goals Soccer Centres plc | |
Keith Rogers, Managing Director | Tel: 01355 234 800 |
Bill Gow, Finance Director | |
Canaccord Genuity | Tel: 020 7523 8350 |
Bruce Garrow | |
Chris Connors | |
Instinctif Partners | Tel: 020 7457 2020 |
Mark Reed | |
Guy Scarborough | |