Hollywood Bowl has reported that revenue for the 12 months to 30 September 2024 rose 7.1 percent to £230.4m, with four new venues added to its UK portfolio during the period, and a further ten refurbished.

The company is well placed to pursue its investment plans in the new year with a further four sites in the UK and two in Canada, as it continues to see “strong demand for fun and inclusive family-friendly experiences at an affordable price.”

“We are pleased to report another strong performance reflecting the ongoing demand for family friendly, affordable leisure,” said CEO Stephen Burns. “I am extremely grateful to my fantastic colleagues for their hard work and dedication each day to giving our customers the best possible experiences.”

“Following a year of record levels of investment, our proven growth strategy continues to deliver strong returns.” 

Despite the revenue increase, Hollywood Bowl revealed that profit before tax for the period fell 5.2 percent to £42.8m, due in part to “lower than anticipated” demand for its Puttstars mini golf centres, which resulted in a £5.3m impairment charge. 

In a statement, the group said: “It has become clear that bowling centres offer higher returns potential and will remain the group’s first choice when entering new locations.”

“Bowling is unique in its ability to appeal to a wide demographic with anyone able to take part, and we are confident in the ongoing strong demand for fun and inclusive family-friendly experiences at an affordable price.”

Core earnings for the year rose 5.9 percent to £87.6m, and though the company acknowledged that it would be impacted by the rise in employment costs come April, it expects the annual total not to exceed £1.2m, which it was “well placed” to absorb.

“UK families continue to face cost of living challenges, and against that backdrop, delivering high-quality experiences that can be enjoyed for great value is even more important.”

Hollywood  Bowl speaks upfor the smaller operators over NI hike

Despite predicting that it will be able to absorb the additional employment costs caused by the increase in NICs this April, Hollywood Bowl has spoken out to raise awareness of the independent businesses who are now “at risk of closure.”

In its 2024 financial statement, the bowling operator said the changes to contribution and threshold levels will have “a significant impact on the hospitality industry,” and “will be felt most keenly by smaller operators across the country.”

“There are likely to be further consequences following the Government changes with potential for higher inflation, and future job creation, and growth investment at risk.”

“While we are not immune from these changes, as a bowling business with an average customer frequency of around once a year, significant scale advantages, strong cost culture and a relatively low labour-to-revenue ratio of under 20 percent in the UK, we are in a better position than many to mitigate the effect of increased costs.”