Ten Entertainment lifts guidance as demand surges

Bowling and entertainment centre operator Ten Entertainment raised annual guidance as first-half sales growth had exceeded pre-pandemic levels.

The company said sales rose 52.6% for the 26 weeks to June 26, compared with the same period in 2019 before Covid-19 forced the closure on non-essential businesses.

Trade was boosted by record sales during the February half-term, Easter break and May Jubilee bank holiday.

Sales were up 46% on a On a like-for-like basis, compared with the same time in 2019, accelerating from growth of 30.3% in the second half of 2021.

The company also reported 19.5% sales growth in the six weeks since May 16, when compared to the weeks it re-opened in 2021.

Ten said it expected sales performance to slightly temper in the second half, but to continue delivering record growth ahead of its current expectations.

Reporting by Frank Prenesti at Sharecast.com