Hollywood Bowl FY performance underpinned by 'robust rebound' in demand

Ten-pin bowling operator Hollywood Bowl Group said on Friday that its full-year performance reflected the "robust rebound" in customer demand following the reopening of its centres in England and Wales on 17 May and the subsequent lifting of Covid restrictions from 19 July.

Hollywood Bowl stated like-for-like revenues were up 29% since mid-May compared to the 2019 pre-Covid trading year, bringing in £61.3m in revenues since reopening.

The firm highlighted "exceptional trading" through the school summer holiday period, including record total revenue levels of £20.1m in August, and said it had turned in a positive underlying earnings performance and cash generation in every month since having reopened, including May.

Hollywood Bowl also pointed out its "strong balance sheet", with net cash of £30.0m at year, enabling it to accelerate its investment programme.

Chief executive Stephen Burns said: "It has been fantastic to welcome our customers back in record numbers, and to see families and friends enjoying their time in our bowling and mini-golf centres once again.

"We took a number of actions to ensure that the group was in as strong as possible position to reopen, and our balance sheet strength is allowing us to accelerate our proven strategy of delivering growth from investing in new and existing centres and customer-led innovation."

As of 0950 BST, Hollywood Bowl shares were up 0.67% at 244.62p.