Hollywood Bowl Group plc Statement on COVID-19 (5173G)

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                             [phone] 
 
 

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.

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March 17, 2020 12:40 ET (16:40 GMT)