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Hollywood Bowl swings to loss on pandemic impact; touts optimism amid reopening
StockMarketWire.com
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Ten-pin bowling operator Hollywood Bowl reported swung to a first-half loss it was forced to close its business for the most of the period owing to the pandemic.
For the six months ended 31 March, pre-tax losses were £14.5 million compared with a profit of £15.2 million a year earlier after revenue fell to £12 from £69.2 million.
'The results reflect the impact of lockdowns during the first half in which the business was fully closed for 75% of the period and operated with trading restrictions for the remainder,' the company said.
Looking ahead, the company touted optimism ahead of the further lifting on restrictions on 17 May.
'The considerable demand we saw from customers when we reopened after the first lockdown and the strength of our pre-bookings for May gives us confidence that we can recover to pre-pandemic performance levels as families flock back for fun, celebrations and affordable activities,' the company said.
The overall target for new centres were doubled to a range of 14 to 18 by 2024, it added.
At 8:00am: (LON:BOWL) Hollywood Bowl Group Plc share price was 0p at 186p
Story provided by StockMarketWire.com
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