Goals Soccer Centres (AIM: GOAL) – results in-line, snow disrupts but California beckons
Group sales of £34.7m were broadly flat on the prior year (2013:£33.7m) with like for like sales growth of 2%. EBITDA was amazingly the same as the prior year at £14.8m with underlying profit before tax up 10% at £10.6m and underlying diluted earnings per share 14.5p.
There were some notable exceptional costs during the period including £2.7m to exit an interest rate swap, £0.5m cost of a bank arrangement fee and £0.6m provided against due to introduction of new app (see below). We hope the last of these will be avoided in the future following the introduction of the new app.
The final dividend was 14,5p resulting in a full year distribution of 2.00p up 8%
Management commented on continued strong US performance with like-for-like sales up 13%, although they currently only have a single centre out there with headline terms agreed on two more US sites in the Los Angeles area.
The total estate…
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