XP Factory delivers continued growth in Q1

8th May 2024 09:32

(Sharecast News) - Leisure businesses operator XP Factory said on Wednesday that it had delivered continued growth in Q1, setting its full-year performance on a course to meet guidance.

XP Factory said it had experienced a strong end to the financial year, supported by double-digit like-for-like growth in the three months to 31 March, in line with internal expectations. Group turnover for the 15 months to 31 March grew to £57.6m, up over 80% on the comparable 15-month period.

The AIM-listed group noted that the increase reflected "robust like-for-like growth", the full-year inclusion and maturing of sites opened in the latter part of 2022, and the expansion of its owner-operated estates of both Boom Battle Bar and Escape Hunt.

Chief executive Richard Harpham said: "The group's continued strong performance in the final three months of the financial year culminates a period of exceptional growth and development within the business. Trading in April has continued the positive momentum. Our investments into new sites are generating industry leading returns setting the business well to generate growth in shareholder value and providing the blueprint to continue our expansion."

As of 0930 BST, XP Factory shares were up 4.58% at 14.38p.

Reporting by Iain Gilbert at Sharecast.com