Bowling centre firm Ten Entertainment reveals jump in sales
Shares in the tenpin bowling operator rose in early trading on Wednesday as a result.
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Your support makes all the difference.Ten Entertainment has revealed an increase in profits as it shrugged off pressure on consumer budgets to report record trading over the past six months.
Shares in the tenpin bowling operator rose in early trading on Wednesday as a result.
Chief executive Graham Blackwell told the PA news agency that growth in footfall and cost-saving efforts mean the group saw limited changes to pricing at its centres.
All our interactions with customers tell us that they really see it as a great day out for everyone in the family at a very good price
He said the “strong value” of its offer helped it during the year as it also revealed a rise in sales over the summer.
“We’ve been able to keep prices for the sites at 2019 levels and customers really appreciate that,” he said.
“We have had to make small increases on some food and beverages but that was passing on some of the impact we’ve seen.
“All our interactions with customers tell us that they really see it as a great day out for everyone in the family at a very good price.”
It came as Ten Entertainment Group recorded a 0.6% increase in pre-tax profits to £15.8 million for the six months to July 2.
Meanwhile, the hospitality and leisure firm also witnessed a 3.3% increase in total sales to £65.3 million for the half-year.
It added that trade over the summer was “excellent”, with like-for-like sales growth of 12.8% since the start of July.
The firm also told shareholders it has opened three new sites this year to take its estate to 51 locations, as part of a continued expansion plan.
Mr Blackwell said its opening plans have benefited from the availability of some vacant former retail properties.
“Our site in Dundee was a Toys R Us, in Milton Keynes it was a Staples, and our new site in Sheffield was an Argos,” he said.
“The tough situation for some retailers has provided us with some opportunities.
“It is all about finding the right location, but we are really happy with our pipeline and have four new locations planned for next year.”
Shares in the firm were up 1.8% after early trading on Wednesday.