Hollywood Bowl FY revenues hit record high amid 'strong' demand

Bowling alley operator Hollywood Bowl said on Friday that annual profit and revenues had grown against 2019 pre-Covid comparators, supported by "strong" customer demand.

Hollywood Bowl said total revenues were up 49.2% in the twelve months ended 30 September at £193.7m, a fresh record for the firm, while gross profits were 47.6% higher at £164.3m and adjusted group pre-tax profits rose 77% to £39.4m.

The London-listed firm also said there had been strong trading momentum at the start of its current financial year, with "encouraging" pre-bookings for the Christmas period.

Hollywood Bowl also noted it was well insulated from inflationary pressures, as UK electricity usage costs were said to be hedged until the end of the financial year 2024.

Chief executive Stephen Burns said: "I am delighted with our excellent performance and record revenue this year, which demonstrates the continued success of our proven customer-led strategy. It is also testament to the significant efforts of our team who have provided consistently great, affordable experiences, appealing to customers facing increasing pressures during the cost-of-living crisis.

"We are well positioned to continue to grow our business, supported by our strong balance sheet, highly cash generative business model, and our resilience to inflationary pressures."

As of 0940 GMT, Hollywood Bowl shares were up 1.95% at 233.98p.

Reporting by Iain Gilbert at Sharecast.com