Ten Entertainment Group PLC Trading Update and Outlook for 2021 (2773R)
04 Noviembre 2021 - 01:00AM
UK Regulatory
TIDMTEG
RNS Number : 2773R
Ten Entertainment Group PLC
04 November 2021
4 November 2021
Ten Entertainment Group plc
Trading Update and Outlook for 2021
Ten Entertainment Group plc ("the Group"), a leading UK operator
of bowling and family entertainment centres, today announces an
update on trading and the outlook for the 2021 financial year
(FY21).
The Group has continued to perform very well since the half-year
results in September 2021. Outlined in those results was an
expectation that sales would subside to high single digit growth
from the exceptional like-for-like sales(1) of 35.8% reported up to
12 September for the 17 weeks since reopening. Demand has exceeded
expectations, and like-for-like sales growth has remained above 30%
through September and October, with half-term setting a record for
the Group. We are now looking forward to a successful Christmas
trading period to end the year.
This continuing strong sales performance means that the Group
now expects to make a modest profit before tax for FY21, ahead of
previous expectations where a modest loss had been anticipated.
This is a significant achievement for a business that was entirely
closed for the first 20 weeks of the year and is testament to the
strength of our Group and the strong levels of demand for
experiences and great value family entertainment.
The Group is not indicating any changes to FY22 guidance amid
the continuing uncertainty in respect of the economic outlook. We
remain confident that our centres have broad appeal and offer great
value for money. We reiterate our expectations for double-digit
sales growth in FY22 compared to an FY19 baseline, with modest
compression of margin as a function of ongoing inflationary cost
pressures. The pipeline is progressing well, and the Group expects
to open four new centres in FY22.
The Group intends to issue a full year trading update in early
January ahead of its scheduled FY21 results announcement in March
2022.
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulation (EU) No. 596/2014 as amended by The Market
Abuse (Amendment) (EU Exit) Regulations 2019.
Enquiries:
Ten Entertainment Group plc via Instinctif Partners
Graham Blackwell, Chief Executive Officer
Antony Smith, Chief Financial Officer
and Company Secretary
Instinctif Partners Tel: 020 7457 2020
Matthew Smallwood
(1) Like-for-like sales are sales compared to 2019 sales from
comparable centres that were open during both trading periods.
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END
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