Hollywood Bowl, the owner and operator of bowling alleys across the UK and Canada, has raised its guidance despite slower revenue growth in the UK.
In a trading update for the year ended 30 September, the company said it expected to report earnings before interest, tax, depreciation and amortisation (EBTIDA) for the year ahead of market expectations at over £65m.
Hollywood Bowl reported record revenues of £230.4m up 7.2 per cent compared to 2023. Like-for-like revenue growth was steady at 0.2 per cent.
Hollywood Bowl said the performance reflected: “anticipated normalisation in trading following three years of exceptional performance”.
The company has delivered UK annual growth of six per cent since 2019.
Hollywood Bowl added four new centres to the UK estate, including three new centres in Dundee, Colchester, and Kent, and acquired Lincoln Bowl.
The company said it’s on track to open four new centres in 2025, which would take the total to 72.
Revenue in Canada was stronger than in the UK, rising by 42.2 per cent to £30.7m. Hollywood Bowl operates 13 centres in Canada, with four refurbishments and four new centres opened during the year.
Stephen Burns, chief executive officer, said: “We are pleased with our full year performance, both financially and operationally. We have delivered further profitable growth, demonstrating the success of our proven, customer-led strategy.
“We have continued to grow our estate in the UK and Canada and drive strong returns through the ongoing investment in our centres. Our team’s dedication to providing consistently excellent customer experiences is reflected in increased dwell time, higher spend per game and positive customer feedback.
“We remain confident in the long-term opportunity for future profitable growth across both the UK and Canada. Our strong cash position means we are well placed to continue to invest in our growth, increasing the size and quality of our estate and looking to continually enhance the customer experience.”