UK-based Ten Entertainment Group, operator of 45 Tenpinbowling and family entertainment centres, has reported on-target growth in its half-year trading update.
For the 26 weeks to June 30, 2019, the group enjoyed total sales growth of 9.6 per cent and like for like sales growth of 7.4 per cent. This was as a result of the comparative period experiencing extreme hot weather conditions during May and June, 2018.
TEG has continued to expand its estate with the acquisition of sites in Southport in Q1 and Falkirk in Q2, bringing the current total number of sites to 45. Both were existing operating bowling centres and are now undergoing “Tenpinisation” through a targeted investment programme to improve sales performance and profitability.
The business also reports that it has accelerated its focus on investment in the foundations of improved customer experience, with more targeted marketing and online activity and product innovation in the first half. The company expects these investments to drive long-term growth and begin to show benefits towards the end of the second half.
Group adjusted EBITDA performance for the first half is expected to be in line with its expectations, and the business says it is on track to meet its expectations for the full year.
Duncan Garrood, chief executive officer, commented: “The business has shown strong growth in the first half and our expansion plans are on track with the acquisition of two sites in H1. We are very focused on acquiring further sites in H2. We look forward to delivering another year of profitable progress.”
