Hollywood Bowl FY revenues hit record levels

21st Oct 2024 08:05

(Sharecast News) - Ten-pin bowling centre operator Hollywood Bowl said on Monday that full-year underlying earnings were pegged to come in ahead of market expectations on the back of record annual revenues.

Hollywood Bowl said revenues were up 7.2% year-on-year at £230.4m, with UK revenues 3.8% higher at £199.7m and Canadian revenues 42.2% stronger at CAD $53.0m (£30.7m).

The FTSE 250-listed group also said it expects to report underlying earnings of more than £65.0m, ahead of current market expectations.

Chief executive Stephen Burns said: "We are pleased with our full-year performance, both financially and operationally. We have delivered further profitable growth, demonstrating the success of our proven, customer-led strategy. We have continued to grow our estate in the UK and Canada and drive strong returns through the ongoing investment in our centres.

"We remain confident in the long-term opportunity for future profitable growth across both the UK and Canada. Our strong cash position means we are well placed to continue to invest in our growth, increasing the size and quality of our estate and looking to continually enhance the customer experience."

As of 0955 BST, Hollywood Bowl shares were up 2.31% at 332.50p.

Reporting by Iain Gilbert at Sharecast.com