Despite the pandemic, Ten Entertainment Group, with 46 FECs in the UK, has recovered well, the company states in its half-year report.
The six-month period to June 28 was marked by the severe disruption of Covid-19, but had set of well in the first quarter. The group says that sales were nevertheless down for the half-year, from £41.4m to £22.5m and adjusted EBITDA fell from £11.2m to a minus £1.5m. Profit after tax was minus £5.2m compared with a positive £4.7m.
The first quarter showed sales up 9.6 per cent prior to the lockdown and during the pandemic, cash "burn’" was reduced by 70 per cent through government support, cost control measures and supplier support.
All locations are now reopened and current trading is at 83 per cent of previous levels. Spend per head from customers has been maintained and all of this is against a background of 50 per cent capacity.
CEO Graham Blackwell said: “We are really encouraged by our reopening performance. Our primary focus is to return the business to the trend of the first quarter through our strengths in operational improvement and commercial innovation.”
