Hollywood Bowl Group plc Statement on COVID-19 (5173G)
18 March 2020 - 3:40AM
UK Regulatory
TIDMBOWL
RNS Number : 5173G
Hollywood Bowl Group plc
17 March 2020
HOLLYWOOD BOWL GROUP
STATEMENT ON COVID-19
Hollywood Bowl Group plc, ("Hollywood Bowl" or the "Group"), the
UK's market leading ten-pin bowling operator, today provides an
update in response to COVID-19.
The Group has traded well in the five months to 29 February
2020, with like for like sales growth of 9.0% and Group revenue
increase of 12.5%.
At this time, the Group's centres continue to operate, however,
with trading in recent days affected by COVID-19 and reflecting the
rapidly changing circumstances and guidance, the business is
preparing for a potential temporary closure. Appropriate measures
have been put in place to reduce the impact on the Group, including
cost reduction and capital expenditure projects.
Our priority remains the health and wellbeing of our team
members and customers and we are continuing to ensure we have the
appropriate measures and precautions in place for their safety.
While the full implications of COVID-19 on the financial
performance for the year ending 30 September 2020 are difficult to
determine at this stage, the Board remains confident in the Group's
prospects over the long term.
The information contained within this announcement is deemed by
the Group to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014.
Enquiries:
Hollywood Bowl Group via Tulchan Communications
Steve Burns, Chief Executive
Laurence Keen, Chief Financial Officer
Mat Hart, Chief Marketing and Technology
Officer
Tulchan Communications
James Macey White
Elizabeth Snow
Amber Ahluwalia +44 (0) 207 353 4200
Notes to Editors:
Hollywood Bowl Group is the UK's largest ten-pin bowling
operator, with a high quality portfolio of 61 centres operating
across the UK under the Hollywood Bowl, AMF and Puttstars (mini
golf) brands. The Group specialises in operating large, high
quality bowling centres, predominantly located in out of town
multi-use leisure parks (typically co-located with cinema and
casual dining sites) and large retail parks. The centres are
designed to offer a complete family entertainment experience with
each centre offering bowling lanes, on-site dining, licensed bars,
and state-of-the-art family games arcades.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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