Fri. Feb 3rd, 2023

By Joe Hoppe

Ten Entertainment Group PLC said Wednesday that its total, first-half sales growth had increased compared to prepandemic levels, and it expects its full-year performance to beat its current expectations.

The U.K.-based operator of bowling and entertainment centers said that for the 26 weeks to June 26, it recorded 52.6% total sales growth, when compared with the same period in 2019. Record-breaking sales over the February half-term, Easter break and May Jubilee bank holiday all contributed to sales growth, and customer demand has been consistent.

On a like-for-like basis, sales were up 46.0% compared with the same time in 2019, accelerating from growth of 30.3% in the second half of 2021.

The company also reported 19.5% sales growth in the six weeks since May 16, when compared to the weeks it re-opened in 2021.

Ten said despite wider macroeconomic uncertainties, it has previously offset inflationary pressures and was confident it was manageable within its business model. It expects its sales performance to slightly temper in the second half, but to continue delivering record growth ahead of its current expectations, though it didn’t provide a figure.

Write to Joe Hoppe at joseph.hoppe@wsj.com



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