Hollywood Bowl in profit despite pandemic impacts

In its final results for the year ended September 30, the group registered a 0.9 per cent increase in its operating profit margin, going from 12.4 per cent to 13.3 per cent, with the group profit after tax increasing to £1.7 million.

As a result of the pandemic’s financial impact on business, the company registered a £9.6 million operating profit, three per cent down compared with the previous year. The group’s gross profits and revenues suffered the same fate sliding down to £61.6 million and £71.9 million respectively.

The group includes a Hollywood Bowl at Bentley Bridge, Wednesfield, and an AMF Bowling centre at Shrewsbury,

Chief executive Stephen Burns said: “The past year has been challenging but also rewarding.

“I am delighted about the excellent performance since reopening, including delivering record activity for both a single day and an entire month, exceeding our FY2019 trading levels on a like-for-like basis, and delivering a profit for the year.”

Pent-up demand was the main driver behind Hollywood Bowl’s positive results, as the company registered a record £20.1 million in August and 9.6 per cent increase in spending per game.

Hollywood Bowl said it had made a strong start to its current financial year with all centres open. It is on track to open a further 10 to 14 new centres by the end of the 2024 financial year.

“Notwithstanding the ongoing uncertainties regarding Covid-19 restrictions, we remain confident in the continued strong ongoing demand for fun, safe and family-friendly experiences,” added Mr Burns.

“Our strong balance sheet and highly cash generative business model means we are well positioned to continue our refurbishment programme and rollout of both the Hollywood Bowl and Puttstars brands.”