Power Probe Regulatory News (PWR)

25 Nov 2005 07:00

Powerleague Group plc25 November 2005 For immediate release: 25 November 2005 POWERLEAGUE GROUP PLC TRADING UPDATE AND AGM STATEMENT At the Company's AGM, Claude Littner, Chairman of Powerleague Group plc("Powerleague" or "the Group"), the leading commercial operator of 5-a-sidefootball centres in the UK, will make the following comments with regard totrading: "Trading during the first four months of this financial year has continued to bestrong. Our performance is underpinned by the high level of recurring revenuefrom our existing centres and enhanced by our development of other revenuestreams such as sponsorships. "I am pleased to report that since the year end in July, we have opened newcentres in Basingstoke and Kilmarnock. They were completed on budget andslightly ahead of schedule. Both centres are trading well and should make asatisfactory contribution to the Group in the current financial year. We nowhave 32 centres throughout the UK. In addition, we have continued to develop ourexisting estate, adding a new 7-a-side pitch at Watford, two new 7-a-sidepitches at Fairlop Oaks, in North East London and a new 7-a-side pitch here, atour Barnet Centre at Bobby Moore Way. The benefits of these developments will beseen during the current year. "I made reference in my annual statement to the acquisition of four 5-a-sidefootball centres from Vida for a cash consideration of £3.75m. The four sites,located in Manchester South, Warrington, Barnsley and Dunfermline, have now beenfully integrated into the Group with the successful implementation of ourmanagement and operational systems. We are pleased with our investment andsatisfied with the progress that has been made to date. We have extended theaffordable gym facility at Manchester South, which has been well received andhas translated into additional memberships. "Our pipeline of sites is progressing well, and we continue to explore newopportunities to develop our sponsorship revenues and relationships with bluechip companies. Since the year-end we have signed a three year sponsorship andsupply agreement with Lucozade, which will complement our existing agreementswith Xbox and Nike. "We are confident that this financial year will be another successful one forPowerleague and we are on track to achieve our expectations, particularly withthe World Cup in 2006, which will intensify interest in football during the yearand lead to a number of sponsorship and tournament initiatives across ourestate." For further information please visit www.powerleague.co.uk or contact: Claude Littner / Sean Tracey Lulu Bridges/ John WestPowerleague Group plc Tavistock CommunicationsTel: 020 7920 3150 (25 November 2005 only) Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange