Hollywood Bowl Group PLC on Thursday said it is confident in its ability to boost its ‘market-leading’ position in the UK and Canada after a bumper holiday period.
The Hemel Hempstead, England-based ten-pin bowling operator said December saw its highest ever monthly revenue, alongside its ‘biggest ever day of trading on New Year’s Eve’, according to Chief Executive Officer Stephen Burns.
The company held its annual general meeting on Thursday, telling shareholders that revenue grew 11% between October 1, its financial year start, and January 12, in line with its own expectations.
‘This performance reflects the continued demand for affordable, fun and family-friendly competitive socialising in both the UK and Canada,’ the firm said.
UK revenue grew by 8.0% or by 4.5% on a like-for-like basis. Revenue in Canada on a constant currency basis was 41% higher, or 14% like-for-like.
Hollywood Bowl said it is on track to meet its target of 130 centres by 2035.
CEO Burns said: ‘This successful start to the year underlines the continued strength of our value-for-money, family-friendly customer proposition. We are confident in the outlook and our ability to further develop our market-leading position in the UK and Canada, enhancing the customer experience and seizing the significant growth opportunity ahead.’
Hollywood Bowl shares fell 3.5% to 278.00 pence each on Thursday morning in London.
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