Strike: Bowling alley operator Ten Entertainment sales grow by nearly a tenth
Ten Entertainment shares rose three per cent this morning after it reported a 9.6 per cent rise in sales.
The FTSE all-share firm benefited from cooler conditions than last year throughout May and June. These helped draw more customers into its bowling centres, it said.
Read more: Ten Entertainment to target London in bowling alley expansion plan
Ten Entertainment made £41.4m worth of sales in the first half of 2019. A 7.4 per cent like-for-like growth made up the bulk of the 9.6 per cent year-on-year increase. Newly-opened facilities accounted for 2.2 per cent of the growth.
Chief executive Duncan Garrood said: “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 the first half and we are very focused on acquiring further sites in the second half. We look forward to delivering another year of profitable progress.”
The firm has poured more money into targeted advertising and measures to improve customer experience in recent months. The board hopes this will “drive long term growth”. It said it would “begin to show benefits towards the end of the second half”.
Ten Entertainment runs 45 bowling alleys across Britain, and recently acquired new sites in Southport and Falkirk.
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The firm is targeting expansion within London as the bowling alley chain looks to increase its presence within city centres, Garrood told City A.M. in March.
Main image credit: Getty