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Trading update and change of reporting date

8 Mar 2019 07:00

RNS Number : 2416S
Goals Soccer Centres PLC
08 March 2019
 

Goals Soccer Centres PLC

("Goals" or the "Company")

Trading update and change of reporting date

 

The Board of Goals Soccer Centres PLC (AIM: GOAL) a leading operator of outdoor small-sided soccer centres with 50 sites including four in California, North America, has over the last 12 months made significant changes to the leadership and operational management of the business, at both an Executive and non-Executive level, as well as appointing new Company Auditors.

As part of the review of the results for the financial year ending 31 December 2018, the Board, together with the Auditors, are working to resolve certain accounting errors, and are reviewing some accounting practices and policies. It is likely that the Board will take a more prudent approach both for 2018 full year results and going forward.

As a result, the Board now expects the 2018 full year results will be materially below expectations and that the reporting date (previously 12 March 2019) will be delayed.

Whilst the majority of these accounting adjustments are of a non-cash nature, this does nevertheless mean that the Company will have exceeded one of its banking covenants at 31 December 2018. We are in discussions with the bank with a view to agreeing re-negotiated facilities.

The Board would also like to confirm that trading in the first two months of the year has been strong with an increase in like-for-like sales, in both the UK and US, over the comparable period in 2018.

The Company will make further announcements in due course.

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.

 

8 March 2019

 

Enquiries

Goals Soccer Centres plc

Michael Bolingbroke, Chairman

Andy Anson, Chief Executive Officer

01355 234 800

Canaccord Genuity Limited (Nominated Adviser and Broker)

Chris Connors

Martin Davison

Richard Andrews

020 7523 8350

Instinctif Partners

Matthew Smallwood

Andy Low

020 7457 2020

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
ARISSWFUWFUSEID
Date   Source Headline
26th Sep 201912:00 pmRNSCircular to shareholders re Rule 2.11
24th Sep 20195:08 pmRNSForm 8.3 - Goals Soccer Centres plc
24th Sep 20194:11 pmRNSForm 8.3 - Goals Soccer Centres Plc
24th Sep 20192:43 pmRNSForm 8.3 - Goals Soccer Centres Plc/Sports Direct
24th Sep 20192:12 pmRNSForm 8.3 - Goals Soccer Centres plc
24th Sep 20191:49 pmRNSForm 8.3 - [Goals Soccer Centres plc]
24th Sep 201912:51 pmRNSForm 8.3 - Goals Soccer Centres PLC
24th Sep 201911:40 amGNWForm 8.3 - GOALS SOCCER CENTRES PLC
23rd Sep 201910:45 amRNSResponse re possible offer
23rd Sep 20197:00 amRNSPossible Cash Offer for Goals Soccer Centres plc
29th Aug 20198:32 amRNSAMA Process
12th Aug 20197:49 amRNSUpdate
2nd Aug 20197:00 amRNSUpdate
28th Jun 20195:56 pmRNSResult of AGM
28th Jun 20192:59 pmRNSTrading Update
21st Jun 201911:43 amRNSResponse to Sports Direct International plc
19th Jun 20191:01 pmRNSResponse to Sports Direct International plc
18th Jun 20192:52 pmRNSAppointments
10th Jun 20197:00 amRNSNotice of AGM
28th May 20197:00 amRNSTrading Update
13th May 20197:00 amRNSDirectorate Change
27th Mar 20197:30 amRNSSuspension - Goals Soccer Centres Plc
27th Mar 20197:00 amRNSTrading Update
26th Mar 20194:40 pmRNSSecond Price Monitoring Extn
26th Mar 20194:35 pmRNSPrice Monitoring Extension
12th Mar 20192:06 pmRNSSecond Price Monitoring Extn
12th Mar 20192:00 pmRNSPrice Monitoring Extension
11th Mar 201910:25 amRNSHolding(s) in Company
8th Mar 20197:00 amRNSTrading update and change of reporting date
1st Mar 20197:00 amRNSHolding(s) in Company
25th Jan 20193:55 pmRNSHolding(s) in Company
25th Jan 20197:00 amRNSAppointment of Non-Executive Director
23rd Jan 20197:00 amRNSDirectorate Change
15th Jan 20197:00 amRNSInterim CFO appointed
14th Jan 20194:40 pmRNSSecond Price Monitoring Extn
14th Jan 20194:35 pmRNSPrice Monitoring Extension
14th Jan 20197:00 amRNSPost close trading update
7th Jan 201911:50 amRNSHolding(s) in Company
13th Dec 20188:50 amRNSGoals opens fourth US Soccer Centre
3rd Dec 20187:00 amRNSDirectorate Change
28th Nov 20189:08 amRNSHolding(s) in Company
12th Sep 20187:00 amRNSInterim Results
31st Aug 20182:34 pmRNSHolding(s) in Company
21st Aug 20181:39 pmRNSPCA Dealing
19th Jul 20187:00 amRNSRe Directorate
19th Jul 20187:00 amRNSPost close trading update
26th Jun 201811:50 amRNSChange of auditor
12th Jun 20187:00 amRNSDirectorate Change
29th May 201811:06 amRNSHolding(s) in Company
11th May 20181:39 pmRNSDirector/PDMR Shareholding

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