Tenpin owner delivers growth above pre-Covid levels
Ten Entertainment Group has enjoyed growth at above pre-Covid levels in its latest half year.
Total sales for the 26 weeks to June 26 were up 52.6 per cent at £63.2 million from £41.4m in the same half year in 2019.
It said that value for money entertainment was driving sustainable growth in both sales and profit.
The group's adjusted pre-tax profit for the six months was £15.7m from £7.1m in 2019 and a loss of £10.8m a year earlier when there were only six trading weeks.
Ten Entertainment operates 48 bowling and family entertainment centres, including Tenpins in Dudley, Stafford and Telford.
A new Tenpin in Walsall is opening on September 28 with 20 bowling lanes and two karaoke rooms.
Bowling prices have been frozen at 2019 levels to maintain value for money and drive footfall which was up 36 per cent in the half year.
There has been 0.5 per cent like-for-like sales growth compared to 2021 in the 11 weeks since June 27.
It has invested £3.1m in four refurbishments and three further refurbishments are planned in the second half of the year
Chief executive Graham Blackwell said: "Our teams have once again raised the bar in the first half of this year and have worked even harder to deliver this impressive result. We have accelerated our growth and redefined the baseline, putting the business in the best possible shape to support our people and our customers through the challenges of the next 12 months.
"Our sales growth is, and remains, very strong against 2019 and we have consolidated and built upon the gains we made last year. We now have net cash and have resumed our dividend payments while maintaining our focus on investing in the customer experience to continue our growth.
"We have bucked the trend of many other businesses in hospitality and leisure and our value for money customer proposition is well positioned to continue to deliver strong returns for our shareholders."
