Hollywood Bowl swings to loss as lockdowns keep bowling alleys shut
Hollywood Bowl today reported a pre-tax loss of £14.5m for the six months ended 31 March as lockdowns kept UK bowling alleys shut.
The leisure firm, which was forced to keep its alleys closed for three quarters of the period, also saw revenue plummet 82 per cent year-on-year to £12m.
Delivering its interim results, Hollywood Bowl expressed its confidence in post-lockdown trading and its eagerness to invest.
The company will look to expand on its portfolio of ten-pin bowling and mini-golf sites, with construction on three new centres starting this year.
Stephen Burns, CEO of Hollywood Bowl, said: “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.”
Following the interim results, shares in Hollywood Bowl fell 0.6 per cent as markets opened.