Lucky strike: Hollywood Bowl hails record revenue as pent-up demand pays off
The UK’s largest ten-pin bowling operator has hailed record first half revenues this year, as pent-up demand pays off.
Hollywood Bowl raked in £91.3m in the six months to 31 March, up nearly 660 per cent in comparison with the £12m it pulled in the same period last year.
Four of the top five months for record revenues have been achieved so far this year, with Brits rushing to make use the leisure activities that were closed off during the pandemic.
It comes as the London-listed company invests in growing its portfolio of bowling and mini-golf centres.
With record cash generation from its operations, Hollywood Bowl’s net cash position sits a little under £50m.
In its latest trading update, Hollywood Bowl said it would be reinstating its dividend for the first-half of the year.
CEO Stephen Burns said: “We have had an excellent start to the financial year, as a return to more normal operating conditions combined with strong demand and our customer-focused strategy, led to impressive sales growth and profits.
“We remain confident in the enduring consumer demand for fun-filled, experiential leisure activities that offer great value for money. The group’s strong balance sheet supports our ability to invest in our organic growth strategy and to pursue further expansionary opportunities.”