Slower growth at Goals Soccer

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Slower growth at Goals Soccer

Wed, 14 January 2009
Slower growth at Goals Soccer

Five-a-side football centre operator Goals Soccer will restrict the number of stores it opens in 2009 after failing to meet expectations last year.

While renting out football pitches, which accounts for about 75% of income, showed no let-up in demand, spending in other areas (such as in kit shops) slowed in the last six months of the year.

“In recent months our new centres have experienced a slower rate of growth than in previous years resulting in maturity in both sales and profitability taking a few months longer to achieve,” the firm said.

“These factors have led to a marginal shortfall against market expectations in profit before tax for the year ended 31 December 2008.”

Sales in 2008 grew by 20% from 2007, or by 3% when the impact of new store openings is stripped out.

The firm will now open only four stores in 2009.

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