Hollywood Bowl reaches record revenue as dividend soars

Revenue at Hollywood Bowl has reached a record high of £119.2m in the first half of the group’s financial year, increasing by 8.1% year-on-year.

The entertainment firm also reported that in the six months to 31 March, its adjusted EBITDA (£48.3m) and profit before tax (£29.5m) year-on-year increased by 10% and 10.5% respectively.

As a result of these figures, Hollywood Bowl has increased its interim dividend by 21.7% to 3.98 pence per share.

In this period, the group has completed three refurbishments of centres and has acquired, rebranded and refurbished a centre in Lincoln, which has seen "encouraging trading" since completion.

In Canada, Hollywood Bowl has seen its revenue grow by 46.9% in the same period and has developed and refurbished sites across the country.

Chief executive officer at Hollywood Bowl, Stephen Burns, said: "We are pleased to have welcomed so many families, friends and colleagues to our centres in the first half, demonstrating the continued demand for high-quality, family-friendly leisure experiences at affordable prices, particularly against the backdrop of higher living expenses.

"I am extremely grateful to our excellent team members whose hard work has resulted in even longer customer dwell times and higher satisfaction score. We are proud to invest in our team and to once again be recognised as a top company to work for."

Looking forward, the group said that there is “resilient demand for value” for money leisure experiences, while there is expected to be further growth of the estate in both the UK and Canada.

As a result, Hollywood Bowl said that it is "well positioned" to grow the group estate to over 130 centres in the next decade.

Burns added: "We continue to expect further, modest like-for-like growth, even with the very strong prior year comparative, as a result of our customer-led innovation and investment in our profitable growth strategy. We are confident in the outlook for Hollywood Bowl and in our ability to capture the longer-term opportunity to grow our estate to over 130 centres in the next 10 years."



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