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Hollywood Bowl annual profit slumps as lockdown knocks revenue
StockMarketWire.com
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Ten-pin bowling operator Hollywood Bowl reported a slump in profit on lower revenue as the company had to shutter its operations for five months during the government-imposed lockdown earlier this year to curb the spread of Covid-19.
For the year ended 30 September 2020, pre-tax profit fell 95.7% to £1.2 million as revenue slipped 38.8% to £79.5 million.
The poor results reflected a five-month closure of the estate from March, followed by disruptions from government coronavirus tiered restrictions that limited capacity and imposed a 10pm curfew.
'Some of the changes we have made as a result of COVID-19 have enhanced our service proposition and we are very encouraged by the customer response to our reopenings both in August and again in December,' the company said.
'We remain confident in the continued strength of demand and we are optimistic for a gradual return to more recognisable market conditions in 2021,' it added.
At 8:15am: (LON:BOWL) Hollywood Bowl Group Plc share price was 0p at 186p
Story provided by StockMarketWire.com
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