Ten entertainment expects to return to profit after record half-term
Family entertainment provider Ten Entertainment expects to end the year with profits following soaring demand during half-term, and as the group prepares for Christmas.
The news, announced by the entertainment group today, marked a turnaround from earlier forecasts of a loss.
Although closed for the first 20 weeks of the year due to lockdown restrictions, the business was bowled over by a record summer with “exceptional” like-for-like sales of 36 per cent up to 17 September.
The business, which operates 46 bowling and family entertainment centres in the UK, had forecast a slowdown in the growth of sales to single digits but demand through September and October has “exceeded expectations” with like-for-like sales growth staying above 30 per cent.
The group said it now looks forward to “successful Christmas trading period” too.
Despite the strong outlook Ten Entertainment said it was not indicating any changes to its guidance for the next year, citing “continuing uncertainty in respect of the economic outlook.”
Shares in Ten Entertainment were up 7.6 per cent this morning following the news.
The group will publish a full year trading update in January and plans to open four new centres in 2022.