Hollywood Bowl bolsters sales on site openings
The group said the strong like-for-like performance was underpinned by its expansion drive.
Hollywood Bowl, Britain’s biggest 10-pin bowling firm, has cheered rising sales after launching new sites and overhauling its existing estate.
Total revenues grew 9.3% in the six months to March 31 this year, while like-for-like revenues lifted 4% over the period.
The group said the strong like-for-like performance was underpinned by its expansion drive, which included rolling out new centres in Dagenham and Yeovil – bringing its total estate to 59.
Chief executive Stephen Burns said: “We are pleased with our half-year performance, with results in line with our expectations.
“The group had another very successful Christmas, delivering LFL sales growth for the sixth consecutive year over this important trading period.
“Our teams are focused on maximising the opportunities created by our ongoing refurbishment and new centre programme in the second half of the year and continuing to deliver great value experiences for our customers across our estate.”
Hollywood Bowl, which was founded in 2010, said it had bolstered its pipeline by securing deals to open in Swindon and Southend.
Alongside new site openings, it has also refurbished Bradford Hollywood Bowl and rebranded and refurbished Bowlplex centres in Birmingham and Dunfermline.
Shares in the Hemel Hempstead-based firm were up more than 2% in early morning trading on the London Stock Exchange.
Hollywood Bowl raised £181 million in 2016 through an initial public offering on the London Stock Exchange, valuing the firm at £240 million.