Escape Hunt PLC Pre-close trading statement (8184N)
23 January 2019 - 6:00PM
UK Regulatory
TIDMESC
RNS Number : 8184N
Escape Hunt PLC
23 January 2019
23 January 2019
Escape Hunt plc
("Escape Hunt" or the "Company" or the "Group")
Pre-close trading statement
Escape Hunt proves experiential leisure is a bright spot on the
high street
Escape Hunt plc (AIM: ESC), a global leader in the high growth
escape rooms sector, is pleased to announce a pre-close trading
update ahead of reporting its results for the financial year to 31
December 2018 ("FY18").
In respect of the Company's eight owner-operated sites opened in
FY18, the Board is pleased with their early performance, with sales
in line and EBITDA slightly ahead of Board expectations.
For the Group overall, the Board confirms that the full year
Group results for FY18 are expected to be in line with Board
expectations.
Highlights:
-- Three owner-operated sites opened in March 2018 continue their strong progress
-- Five new owner-operated sites which opened in the last
quarter of the year are showing positive early signs, with both
sales and EBITDA well ahead of Board expectations
-- Excellent trading performance over the Christmas period
-- First four owner-operated sites opened have achieved #1
rating on TripAdvisor in "Fun & Games" in respective cities,
with the remaining four sites quickly moving up the rankings
-- 38 rooms across all of the Group's owner-operated sites were
open by the end of the year and a further 15 rooms are due to open
in these sites throughout the first half of FY2019
-- The first Doctor Who themed escape room opened post year-end
in the Bristol site, with a high level of pre-bookings recorded,
boding well for the progressive roll-out of these rooms
The Board is pleased with these results and believes that,
alongside the customer rankings, they are validating the Company's
business model and strategy. As referenced in the FY18 interim
results, the Board continues to assimilate and analyse all the
information from the owner-operated sites to shape its roll-out
strategy for the year. However, in the meantime the Company will
aim to continue this strong performance and develop a pipeline of
good sites. Net cash position was GBP2.6m at 31 December 2018.
Richard Harpham, Escape Hunt Chief Executive Officer, said:
"We are delighted with the inaugural performance of our
owner-operated sites, and especially over the Christmas period,
which provides further evidence that experiential leisure is a
bright spot on the high street as consumers seek out experiences.
The strong pre-bookings for Doctor Who themed escape games also
demonstrates the appeal of Escape Hunt's IP strategy."
Enquiries
Escape Hunt plc
+44 (0) 7584 173958
Richard Harpham (Chief Executive Officer) +44 (0) 7736 883934
Alistair Rae (Chief Financial Officer) +44 (0) 7767
Mustapha Omar (Commercial Director) 697596
Stockdale Securities Ltd - Nominated Advisor
and Joint Broker
+44 (0) 20 7601
Daniel Harris, David Coaten, Fiona Conroy 6100
Peel Hunt LLP - Joint Broker
+44 (0) 20 7418
George Sellar, Guy Pengelley 8900
Yellow Jersey PR Ltd.- Financial Public
Relations
Tim Thompson
Harriet Jackson +44 (0) 20 3004
Henry Wilkinson 9512
About Escape Hunt plc
Escape Hunt is a global leader in providing live escape-the-room
experiences with a network of owner-operated sites in the UK and a
global network of franchised outlets in six continents. The Company
was re-admitted to AIM in May 2017 and has a strategy of creating
high quality premium games and experiences, which incorporates
branded IP content.
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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