Hooray for Hollywood Bowl as firm outlines Yorkshire expansion
Ten-pin bowling firm Hollywood Bowl has reported a big jump in annual profits thanks to higher game volumes and increased spending on food and drink.
The firm said a new Hollywood Bowl centre in York and three mini-golf trial centres in Leeds, York and Rochdale are due to open next year.
Pre-tax profit rose 15 per cent to £28m in the year to September 30 on the back of an 8 per cent rise in revenue to £130m.
Analyst Greg Johnson at Shore Capital said: “It has been another tremendous year for Hollywood Bowl with strong growth in both revenue and profits (ahead of our expectations), the pipeline continuing to build and an additional special dividend announced.
”We continue to view Hollywood Bowl as a core holding in the sector. Its 60 strong estate is well located and invested, with an attractive pipeline secured and a well-positioned low ticket offering.”
Hollywood Bowl’s chief executive Stephen Burns said: “I am delighted to report another year of strong profitable and cash-generative growth, demonstrating the consistent delivery of our proven, customer-led strategy.”
It follows a period of investment in the company’s bowling alleys.
Mr Burns said: “In addition to our new bowling centre pipeline, we look forward to the 2020 launch of three trial Puttstars mini-golf centres, as we look to leverage our operational expertise to offer another family-focused, value-for-money, leisure experience.
“We have made a solid start to the new financial year and we expect to make further progress in our ongoing refurbishment programme, investment in technology and continued rollout of customer innovations.”