StockMarketWire.com - Hollywood Bowl expects earnings for the year to 30 Sep to be marginally ahead of board forecasts.

At its IPO in September 2016, Hollywood Bowl set out a growth strategy focused on expanding its number of centres, investing in refurbishments and the rebranding of its Bowlplex sites into Hollywood Bowl centres, and continuing to innovate and improve the customer experience.

It said the successful execution of this strategy has delivered a strong financial and operational performance.

A pre-close update said: 'Hollywood Bowl has continued its positive trading performance from the first half of the year with second half Group revenue growth of 10.0% against the comparable period last year.

'Overall, Group revenue for the full year grew 8.9%, with LFL revenue growth of 3.5%.' It said the the Group was in a strong financial position, driven by its cash generation and the returns generated from its ongoing investment programme and the board was considering returning capital to shareholders.

Chief executive Stephen Burns said: 'We are very pleased with our full year performance, delivering good results marginally ahead of expectations, through the effective execution of our customer led strategy which is underpinned by our capital expenditure programme.

'Our centre teams continue to work very hard to ensure our customers have a fun-filled, great value for money leisure experience, whilst managing cost and improving our margins.'





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