Ten Entertainment Group PLC Half-Year Trading Update (0006F)
10 Luglio 2019 - 8:00AM
UK Regulatory
TIDMTEG
RNS Number : 0006F
Ten Entertainment Group PLC
10 July 2019
10 July 2019
Ten Entertainment Group plc
Half-Year Trading Update
"Strong sales growth,
On track to deliver full-year expectations."
Ten Entertainment Group plc ("TEG" or "the Group"), a leading UK
based operator of 45 bowling and family entertainment centres,
today announces a trading update for the 26 weeks to 30(th) June
2019.
H1 FY18
----------------------------------- --------
Sales (GBP000's) 41,444
Like-for-like sales change 7.4%
Sales growth from net new centres 2.2%
Total sales change 9.6%
-- The Group traded well during the first half of the financial
year, with total sales growth of 9.6% and like-for-like sales
growth of 7.4%. The half benefited in LFL sales growth as a result
of the comparative period experiencing extreme hot weather
conditions during May and June 2018. Underlying LFL growth remains
stable and encouraging
-- The Group has continued to expand its estate with the
acquisition of Southport in Q1 and Falkirk in Q2 bringing the
current total number of sites to 45. Both were existing operating
bowling centres and are now undergoing Tenpinisation through a
targeted investment programme to improve sales performance and
profitability. These sites will make a profit contribution in
2020
-- The business has accelerated its focus on investment in the
foundations of improved customer experience; more targeted
marketing and online activity; and product innovation in the first
half. These investments will drive long term growth and will begin
to show benefits towards the end of the second half
-- Group adjusted EBITDA performance for the first half is
expected to be in in line with our expectations, and the business
is on track to meet our expectations for the full year
TEG expects to announce its half-year results on 24(th)
September 2019.
Duncan Garrood, Chief Executive Officer, commented:
"The business has shown strong growth in the first half driven
by the continuous improvement of the quality of the customer
proposition and accelerated investment in digital marketing.
Our expansion plans are on track with the acquisition of two
sites in H1 and we are very focused on acquiring further sites in
H2. We look forward to delivering another year of profitable
progress."
Enquiries:
Ten Entertainment Group plc via Instinctif Partners
Duncan Garrood Chief Executive
Officer
Antony Smith Chief Financial Officer
Instinctif Partners Tel: 020 7457 2020
Matthew Smallwood
Jack Devoy
Forward-looking statements
This announcement contains forward-looking statements regarding
TEG. These forward-looking statements are based on current
information and expectations and are subject to risks,
uncertainties and assumptions, including market conditions and
other factors outside of TEG's control that could cause actual
results or events to differ materially from those expressed or
implied by those statements. Readers are cautioned not to place
undue reliance on the forward-looking statements contained herein,
which speak only as of the date hereof. TEG undertakes no
obligations to publicly update any forward-looking statement
contained in this release, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
About Ten Entertainment Group plc
The Group is the second largest ten-pin bowling operator in the
UK market with a total of 45 sites trading under the Tenpin brand
and approximately 1,000 bowling lanes across the estate. The Group
also has a variety of other entertainment offerings, such as
amusement machines, table-tennis, soft play, laser games and pool
tables, plus food and beverages.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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