Ten Entertainment profit grows as it unveils escape room tie-up
Bowling alley operator Ten Entertainment has posted a rise in revenue and profit for the half year, as it announced its first venture into the escape room market.
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Ten reported total sales of £41.4m in the six months, up 9.7 per cent on the same period last year, while pre-tax profit rose 14.2 per cent to £7.3m.
The company enjoyed strong like-for-like sales growth over the period, with trading in May and June boosted by “more typical weather patterns” compared to last year’s heatwave.
Ten also said it has reached an agreement to launch a new joint venture with Southampton-based escape room operator Houdini’s. The two firms said they have a concept site under development, and plan to roll out escape rooms nationally.
Shares in Ten Entertainment closed up almost six per cent on the announcement.
Chairman Nick Basing said: “Our growth strategy continues to generate record sales, profits and earnings for shareholders. Our new, strong management team have made a confident start and have accelerated the execution of our core strategy.
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“We look forward to further tapping into the potential of our strengthening position in the rapidly growing experiential leisure market.”
Main image credit: Ten Entertainment