Tenpin strikes annual sales success
Ten Entertainment Group, which operates more than 40 Tenpin centres including at Dudley, Stafford and Telford, has seen revenues climb and pre-tax profits top £10 million.
The bowling alley operator generated revenues of £76.4 million in the year to December 30 2018, up from £71 million 12 months earlier.
Pre-tax profits were £10.7 million, up from £7.3 million.
During the year, Ten Entertainment acquired four sites and completed a revamp at four further venues, including the extension of Birmingham Star City.
Chairman Nick Basing said: "Our simple two-pronged strategy of investing in driving organic growth and developing scale benefits through high returning acquisitions is proving increasingly successful.
"Despite the political and economic uncertainty currently, we are well placed to enjoy the latent consumer demand for our unique brand of experiential leisure across the country."
Chief executive Duncan Garrood said the company's latest financial year has "begun in line with expectations".
"The business is in excellent shape as reflected in the strong results reported," he said.
"Following my review of the company strategy, I am pleased to endorse that it continues to be the right way to grow our business.
"However, there are further opportunities to develop the existing estate through improvements in the customer experience, food and beverage quality, innovation and the acquisition of new sites. We will also explore the potential of building new sites at available retail locations."
Ten Entertainment has also announced its acquisition of an existing site in Southport.
Completion of the agreed deal is subject to the landlord entering a licence with the seller.
The move brings Ten Entertainment's estate to 44 sites.
Mr Garrood said: "The site in Southport is a well-established centre in an excellent location. This addition is further evidence of the group's ability to successfully execute its strategy as it continues to grow the estate through selective acquisition and by driving organic growth."
Looking ahead, sales in the first 11 weeks of 2019 have been positive, with like-for-like sales year to date at 5.1 per cent. Ten Entertainment said it was well positioned in a market with growing demand for "experiential leisure activities".
