XP Factory PLC reported on Friday a boost in revenue in its half year, and announced it was moving its year end date.
Revenue for the Crawley, England-based entertainment company in the six months ended June 30 more than doubled to £18.8 million, from £8.1 million the year before.
This was driven by its owner-operated brands, Boom Battle Bar and Escape Hunt. Boom is a network of franchise sites combining themed cocktail drinks and food with activities such as augmented reality darts. Boom surged to £11.1 million, from £2.2 million at the same period the year before.
Escape Hunt provides escape-the-room experiences, and was up 41% at £6.1 million, from £4.3 million.
Owner-operated sited level earnings before interest, tax, depreciation, and amortization more than tripled to £3.8 million, up from £1.1 million.
Chief Executive Richard Harpham said: ‘We are delighted to have delivered such transformational growth compared to the same period in 2022. The performance in Escape Hunt has been outstanding and we are delighted to see the young Boom business continue to mature with ongoing improvements to its operating metrics.’
XP Factory changed its year-end date to March 31, from December 31. The company said this new date provided it better visibility as Christmas is the peak trading period.
‘Looking further out, the company is experiencing record levels of corporate and group bookings for the second half of financial 2023, which together with July’s performance helps underpin the board’s confidence in a full year performance in line with market expectations,’ said XP Factory.
Shares in XP Factory were up 7.8% at 18.33 pence in London on Friday morning.
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