XP Factory PLC Boom Battle Bar Openings Update (9756I)
22 Abril 2022 - 1:00AM
UK Regulatory
TIDMXPF
RNS Number : 9756I
XP Factory PLC
22 April 2022
22 April 2022
XP Factory Plc
("XP Factory", the "Company" or the "Group")
Boom Battle Bar Openings Update
XP Factory (AIM: XPF.), a group of leading UK experiential
leisure businesses operating under the Escape Hunt(TM) and Boom
Battle Bar(TM) brands, is pleased to provide an update on new site
openings since the acquisition of Boom Battle Bar(TM) ("Boom") in
November 2021.
The Group has made significant progress, completing the
integration of Boom, expanding the UK footprint and further
developing the site pipeline. At the time of its acquisition in
November 2021, the Boom estate comprised one owner operated site
and six franchise sites. Today, there are a total of 11 sites
trading, comprising two owner-operated and nine franchises, with a
further 10 sites currently in build and scheduled to open over the
coming months. Of these 10 sites, 7 are at or near build
completion. Once opened, the enlarged estate of 21 sites will
comprise 6 owner-operated and 15 franchise venues. Further sites
are well progressed and expected to commence build over the summer
and ensuing months.
Highlights:
-- Progress so far provides confidence that the Board's target
of 27 open Boom venues by the end of 2022 will be comfortably
met
-- Trading performance across both owner-operated and franchise
sites is validating the Board's box-economics expectations for both
sales and profitability
-- Operating leverage is steadily progressing month-on-month in
line with the Board's expected maturity profile
-- Co-located sites for Boom and Escape Hunt are to open soon in
Exeter, Edinburgh and on Oxford Street
-- The team has been bolstered in line with plans, providing
capacity for the further anticipated roll out
Further details will be provided in the Company's audited final
results for the year ended 31 December 2021 which are expected to
be released in late May 2022 and which are expected to show
performance in line with the Company's trading update announced on
26 January 2022.
Commenting on the update, Richard Harpham, Chief Executive of XP
Factory plc, said "We are delighted at how well Boom Battle Bar has
been integrated into the Group. It has been an extremely busy
period for site development and we have an exciting run of openings
in the coming weeks and months which position us well to deliver on
our estate targets for the end of the year. The recent performances
from our new Boom sites have validated our expectations for the
site level profitability we believe is achievable. In addition,
Escape Hunt performance has exceeded expectations for Q1, giving us
confidence for the execution of our strategy as a whole."
Enquiries:
XP Factory Plc
https://www.xpfactory.com/
Richard Harpham (Chief Executive
Officer)
Graham Bird (Chief Financial
Officer)
Kam Bansil (Investor Relations) +44 (0) 20 7846 3322
Shore Capital, NOMAD and Broker
https://www.shorecap.co.uk/
Tom Griffiths/David Coaten (Corporate
Advisory) +44 (0) 20 7408 4050
IFC Advisory - Financial PR
https://www.investor-focus.co.uk/
Graham Herring
Florence Chandler +44 (0) 20 3934 6630
Notes to Editors:
About XP Factory plc
The XP Factory Group is one of the UK's pre-eminent experiential
leisure businesses which currently operates two fast growing
leisure brands. Escape Hunt is a global leader in providing
escape-the-room experiences delivered through a network of
owner-operated sites in the UK, an international network of
franchised outlets in five continents, and through digitally
delivered games which can be played remotely.
Boom Battle Bar is a fast-growing network of owner-operated and
franchise sites in the UK that combine competitive socialising
activities with themed cocktails, drinks and street food in a high
energy, fun setting. Activities include a range of games such as
augmented reality darts, Bavarian axe throwing, 'crazier golf',
shuffleboard and others. The Group's products enjoy premium
customer ratings and cater for leisure or teambuilding, in small
groups or large, and are suitable for consumers, businesses and
other organisations. The Company has a strategy to expand the
network in the UK and internationally, creating high quality games
and experiences delivered through multiple formats and which can
incorporate branded IP content. ( https://xpfactory.com/ )
Facebook: EscapeHuntUK BoomBattleBar
Twitter: @EscapeHuntUK @boombattlebar
Instagram: @escapehuntuk @boombattlebar
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