Novelty bar and experience provider XP Factory has continued to benefit from the consumer recovery, with its brands reporting double-digit revenue growth in the first quarter.
XP Factory, the owner of ‘experimental entertainment’ brands Boom Battle Bar and Escape Hunt, reported an 80 per cent jump in turnover for the 15 months to the end of March. Revenue rose to £57.8m, from the £22.8m reported in the previous period.
Sales at Boom Battle Bar —an Oxford St bar that hosts events like axe throwing, “crazier golf, and beer pong—saw an uplift of 11.6 per cent to £36.5m in the 13 weeks to March 31. Revenue for the franchise itself over the same period was, the firm said, around £2.3m.
Meanwhile, Escape Hunt, an escape room experience also on Oxford St, saw like-for-like sales growth of 11.7 per cent in the first quarter, raking in £17m.
Richard Harpham, XP Factory’s CEO, said: “The Group’s continued strong performance in the final three months of the financial year culminates a period of exceptional growth and development within the business. Trading in April has continued the positive momentum.
“Our investments into new sites are generating industry leading returns setting the business well to generate growth in shareholder value and providing the blueprint to continue our expansion,” Harpham added.
The AIM-listed firm has ridden the wave of consumers’ appetite for novel leisure experiences since the end of the pandemic and saw revenue jump 130 per cent in the first half of last year.
The firm said it expected to publish its full, audited results for the 15 months to 31 March during the summer