Leisure chain Hollywood Bowl Group has said it is on track to grow its group estate to 130 centres in the next decade, after posting record revenue.
The company surpassed the £100m revenue mark for its UK business in the half-year period ending 31 March, rising by 4.4% to £103.3m on a like-for-like basis.
Group revenue grew by 8.1% to £119.2m, while pretax profit jumped by 10.5% to £29.5m during the period.
The chain had 82 centres at the half-year mark, with 71 located in the UK and the remainder in Canada.
During the year, it bought the long leasehold for a centre in Lincoln, which it refurbished, and installed solar panels at two further centres. It also completed refurbishments in Watford Woodside, Stockton and Cardiff.
Post period-end, it opened a centre in Dundee. The company has signed deals on a further six locations, with more in heads of terms and legals stages.
Hollywood Bowl said it is confident it will deliver an average of at least three UK openings per year.
Total property-related costs on a pre-IFRS 16 basis totalled £20.6m, with £18.7m for the UK business, up from £17.6m in the previous year. Rents accounted for almost half of that figure, increasing to £9.2m, up from £8.8m.
Under IFRS 16, total property costs totalled £21.9m, including £5.5m accounted for as lease depreciation and £5.5m in implied interest relating to the lease liability.
Stephen Burns, chief executive, said: “We continue to expect further, modest like-for-like growth, even with the very strong prior year comparative, as a result of our customer-led innovation and investment in our profitable growth strategy.
“We are confident in the outlook for Hollywood Bowl and in our ability to capture the longer-term opportunity to grow our estate to over 130 centres in the next 10 years.”
Image from Hollywood Bowl
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