Hollywood Bowl has reported record revenue of £129.2m for the six months ending 31 March, with UK sales rising 4.7 percent and like-for-like revenue up 1.3 percent, as bowling remains “an affordable, inclusive experience that everyone can enjoy.”
Hollywood Bowl has reported revenue for the first half of 2024/25 reached a record £129.2m, up 8.4 percent year-on-year, as the operator’s 74 UK sites delivered sales of £108.2m.
The company continued to pursue its growth agenda during the six month period, with new openings across the country helping like-for-like UK revenue climb 1.3 percent.
“We are pleased with our half year performance, with results in line with our expectations, reflecting the ongoing demand for fun leisure activities and the attraction of bowling as an affordable, inclusive experience that everyone can enjoy,” said CEO Stephen Burns.
“We have made excellent progress in executing our growth strategy, opening five new centres, and upgrading six centres across the UK and Canada. Our teams work extremely hard to deliver high-quality experiences and we continue to invest in growing our estate and enhancing our industry-leading proposition, while carefully controlling costs and cash.”
Though the company had warned that wage and tax increases at its UK sites could increase annual outgoings by £1.2m, it expected to weather the rise through “a low labour-to-revenue ratio and a strong cost culture.”
A 40.8 percent increase in revenue derived from its Canadian business has also helped the company remain bullish regarding cost pressures, with its venues in the country delivering £21.2m during the latest six month reporting period.
“The ten-pin bowling operator opened five new centres across both markets and completed six refurbishments, reinforcing its long term strategy to reach 130 centres by 2035,” reported an impressed City AM. “Group like for like revenue rose 2.1 per cent, despite an Easter timing drag and leap year impact.”
“A £10m share buyback completed in April further signals the company’s robust numbers, with a net cash position of £22.7m and an undrawn £35m revolving credit facility. Hollywood Bowl also continues to show resilience against inflation, keeping prices relatively low despite rising employment costs – which is expected to contribute £1.2m annually from when the changes were implemented in April 2025.”
