StockMarketWire.com - Bowling alley operating Ten Entertainment reported a deeper first-half loss after the pandemic lockdowns squashed sales, but it also upgraded its guidance as demand comes roaring back.

The company said sales had recovered to a record following an easing of lockdowns and as it benefits from a 'staycation' trend.

Pre-tax losses for the six months through June amounted to £8.8 million, compared to year-on-year losses of £5.6m million.

Sales more than halved to £10.6 million, down from £22.5 million, with company's alleys only open for six trading weeks during the reporting period.

Like-for-like sales in the six weeks from 17 May had jumped 23%. In the 11 weeks since 27 June they had soared 42%, and in the 17 weeks to 12 September they were up 36%.

Ten Entertainment said 'exceptional summer trading' put its full-year outlook ahead of previous management expectations.

The company was targeting double-digit sales growth in 2022 compared to 2019 baseline, though added demand was likely moderate in 2021 as staycation bubble subsides.


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