Power Probe Regulatory News (PWR)

4 Aug 2008 07:00



Acquisition of Soccer Centre in Teeside

Trading Update

4 August 2008

Powerleague Group plc ("Powerleague" or the "Company"), the market-leading commercial operator of premium quality 5-a-side football centres in the UK, is today providing a trading update. Powerleague expects to announce Preliminary Results for the year ended 28 June 2008 on Thursday 2 October 2008.

Acquisition

The Company announces that it has acquired Soccer Sensations, a 5-a-side football centre located in Stockton-on-Tees. Soccer Sensations is a well-established and successful centre located just off the busy A66, with ten next generation 5-a-side pitches and excellent facilities providing customers with the high standard offering typical of a Powerleague centre. Its geographic location complements Powerleague's portfolio of 43 centres around the UK.

With this acquisition, Powerleague has added ten new centres to its operation since the last year end.

Trading Update

The Board of Powerleague is pleased to announce that trading for the year ended 28 June 2008 is in line with management expectations. 

Claude Littner, Chairman of Powerleague said: "This year has been a particularly exciting year for Powerleague. At the end of February, we completed the acquisition of JJB Sport's UK "SoccerDome" indoor 5-a-side football centres. The integration of these centres has progressed extremely well and the five centres are seeing positive benefits from Powerleague's bespoke management systems and the increased focus on pitch utilisation and operating efficiencies.

"During the year, we have also opened four new centres in Cardiff, Old Street in the City of London, Milton Keynes and Shrewsbury, all of which have performed well since opening. Construction work has started on two additional pitches at Powerleague Mill Hill, one of the Company's most successful centres, the full benefits of which will be seen in the second half of the new financial year.

"We are confident that the new financial year will be one of further revenue and profit growth and the outlook remains positive for the Group."

For further information: 

Sean Tracey, Chief Executive 

Powerleague Group PLC 

Tel: 0141 887 7758

Stephen Keys 

Cenkos Securities plc 

Tel: 020 7397 8926

Lulu Bridges / John West 

Tavistock Communications

Tel: 020 7920 3150