The Original Bowling Company (TOBC), the group formed by the merger of AMF Bowling’s UK Family Entertainment business and Mitchells & Butlers’ Hollywood Bowl business in 2010, has reported a 16% rise in like-for-like EBITDA in the year to 30 September, and said it plans three new openings this year.
Like-for-like sales for the company, which operates 42 bowling centres, grew 6.6% with total revenue up 7.5% to £68m.
The company said it became debt-free at the year-end. Total EBITDA after central costs and balance sheet movements was £11m.
TOBC said like-for-like revenue in the three months to 31 December increased 3.2%. Sales over the six-week festive trading period grew 4.6%.
Richard Cook, TOBC chief executive, said: “With the AMF and Hollywood brands now fully integrated, the primary focus over the past twelve months has been driving top-line growth. Thanks to the success of this strategy, coupled with an ever-improving profit margin, the business is now effectively debt free; creating an excellent platform for on-going internal investment and step changes in scale.
“We have both the talent and financial resources to build on our success, helping to ensure that tenpin bowling remains one of the most engaging, inclusive and value-for-money leisure experiences for families throughout the UK.”
Steve Burns, managing director, said: “These are a very pleasing set of results for The Original Bowling Company. The Christmas rush arrived late this year, but when it finally arrived, it came in a surge. Thanks to our investment over the last 18 months in new reservation and customer relationship software, our teams were better prepared than ever to manage this level of business and deliver the customer experience we aspire to.
“This year will be another important milestone for TOBC, with three new openings planned and further developments of our own bespoke technology platform to improve the customer experience. Whilst we cannot expect the weather in 2013 to be as helpful as it was last year, it is pleasing to see us get the new financial year off to such a strong start by exceeding expectations in our most important financial quarter.”
