Hollywood Bowl plans new sites as profits rise to record levels

Hollywood Bowl is plotting a string of new openings after making record profits and revenues this year, the company has revealed.

The success this year comes despite a year that has seen a sizzling summer that kept people outside and other distractions such as the World Cup.

Profit before tax at the UK’s largest 10-pin bowling operator rose 13.4 per cent to £23.9 million during the 12 months to the end of September.

It says it has been confronted with a number of retail challenges since its float two years ago, with hot weather and the World Cup impacting footfall.

But chief executive Stephen Burns said: “I am very pleased with the group’s full year performance.

“Operating our business in line with our customer led strategy has delivered another strong revenue performance which, combined with our continued focus on cost management, has resulted in a year of record profits and significant operating cash generation.

“The investment into our high quality portfolio of 58 profitable centres continues to deliver significant, above target, returns.

“Our new centres are performing very well and we have secured a strong pipeline of new openings that will further enhance the quality of our portfolio.

“We will continue to invest in the overall quality of our estate, in technology initiatives that enhance our industry-leading proposition and in initiatives to attract and retain only the very best talent, all with a view to continually improving the experience for our customers.”

Revenue was 5.8 per cent higher at £120.5 million, with customers spending 6.1 per cent more per game.

The company, which has a site at Bentley Bridge in Wolverhampton, unveiled a special dividend of 4.33p per share, taking the total dividends for the year to 10.59p per share.

The group, which listed in 2016, said this would add up to £29.8 million returned to shareholders since the IPO.

New sites are due to open in Intu Watford and Intu Lakeside in the current financial year, while more openings are in the pipeline until 2022.

Last year the bowling alley in Wolverhampton relaunched following a £300,000 facelift.

The redesigned venue features a new Hollywood Diner, which serves gourmet burgers, hot dogs and milkshakes, and a new American-style bar. Bowling fans can also make use of Hollywood-themed lanes, which guests can enjoy in plush roped-off area, complete with red curtains, pool-style bowling balls and ‘funky’ coloured pins.