Tenpin suffers £5.1m half year loss
Ten Entertainment Group, which owns the Tenpin bowling centres, slipped to a £5.1 million pre-tax loss in the half year to June 28 as it was hit by the coronavirus lockdown.
The group, which has centres at Dudley, Stafford and Telford, saw sales drop from £41.4m a year before to £22.5m. It had made a £4.7m profit in the first half of last year.
All 46 centres are now open with 50 per cent lane capacity with trading at 83 per cent of normal levels.
Ten had made a strong start to the year in the first quarter with accelerating like-for-like sales growth of 9.6 per cemt before lockdown.
Executive chairman Nick Basing said: "I am pleased that even in extreme adversity the team have taken decisive action that has enabled the group to emerge from lockdown so strongly, putting in place sufficient cash liquidity to protect it through a continued period of uncertainty.
"We have made a very good start, showing that we have a safe and attractive business for customers and staff. I fully expect our strategy for growth, proven over the years, to return us to profitable growth in the near future once circumstances permit."
Chief executive 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 improvements and commercial innovation.
" Our proven strategy remains relevant, and with a track record of eight consecutive years of like-for-like sales progression, I am confident that we will return the business to growth."
