Hollywood Bowl reports profit growth and increases dividend

Shares of the bowling company rose higher Monday morning as a result.

The company, which has 71 centers in Britain – including one in Bolton – and 11 in Canada, posted pre-tax profits of £29.5 million for the six months to March, up 10.5% on annual basis.

This was thanks to an 8.1 percent increase in sales to £119.2 million for the year.

The company’s UK operations – its largest division – saw like-for-like sales grow by 1.3 percent, including eight percent for the Splitsville brand in Canada.

Hollywood Bowl said it was boosted by investments in its portfolio of venues, including a major renovation program that is “staying on track and delivering returns”.

The company said it acquired and rebranded a new site in Lincoln in recent months and opened a new center in Dundee last month. It said it will also open a new location in Canada in the current six months.

Stephen Burns, CEO of Hollywood Bowl, said: “We are pleased to have welcomed so many families, friends and colleagues to our centers in the first half, demonstrating the continued demand for high-quality, family-friendly leisure experiences at affordable prices. prices, especially against the backdrop of higher living costs.

“We are confident in the prospects for Hollywood Bowl and in our ability to seize the longer-term opportunities to expand our estate to more than 130 centers over the next decade.”

The company announced an interim dividend of 3.98p per share due to “strong profit growth”, up 21.7 percent on the same period a year earlier.