By Anthony O. Goriainoff
Hollywood Bowl Group said it expects revenue for fiscal 2023 to rise on the back of a strong performance in the U.K., and that it sees Ebitda growth ahead of market expectations.
The bowling operator–which is present in the U.K. and Canada–said Thursday that for the year ended Sept. 30 it expects to report an 11% rise in revenue to 215 million pounds ($261 million).
Total U.K. revenue is seen rising 2.7% to GBP192.6 million, with total revenue for Canada of GBP22.5 million.
The company said its U.K. performance was driven by the combination of a strong demand for its leisure offer and favorable weather conditions during the school summer holidays.
The board said it expects to declare a final ordinary dividend of at least 7 pence due to its strong financial performance and strategic execution.
“The investments behind our expanding offer have increased our resilience during this uncertain economic period and when combined with our highly cash generative business model, means we are well-placed to continue our profitable, self-funded, growth strategy in both the U.K. and Canada,” Chief Executive Stephen Burns said.
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