Ten Entertainment bowls a strike as sales are up 32 per cent despite Covid uncertainty
Ten Entertainment, the leading UK operator of 46 bowling and family entertainment centres, shows a strong bounce back, as it reports a 32.4 per cent sales growth since May 2021 compared to pre-pandemic levels.
The bowling group hit sales of £67m, despite closures for 38 per cent of the year, alongside record profits delivered in each month since June 2021.
Ten Entertainment said in its trading update that first half lockdown losses offset to deliver a return to full-year profitability, having only reopened its centres on 17 May, and fully lifted restrictions on 19 July.
The entertainment group noted that December remained strong, albeit with some softening of demand from large groups and parties driven by government messaging and the impact of Covid measures in Wales and Scotland.
For the first week of 2022, immediately following Christmas, the group returned to the previous trend, delivering its highest ever sales for the Christmas and New Year period.
Given the continuing strength of demand and the resilience of our customer offer, management’s view for 2022 remains optimistic, but hinges its hopes on the government’s Covid response.
Graham Blackwell, chief exec, commented on the results: “It reflects the strength of our business, our people and our improved customer experience that TEG has delivered record trading months since May and returned to full-year profitability in 2021 despite closure in the first half of the year.”
“We are well set to deliver continued growth and success in 2022.” he concluded.
Ten Entertainment are up over four per cent this morning to 257.65p, and it plans to release the full-year results on 29 March.