Ten Entertainment scores strike as alley investment drives sales surge
The bowling alley group posted an 8% rise in like-for-like sales over the year to December 29.
Investment in new bowling alley technology and refurbishments has helped tenpin group Ten Entertainment notch up its eighth year in a row of sales growth.
The firm – which is the second largest tenpin bowling group in the UK – posted an 8% rise in like-for-like sales over the year to December 29, with growth picking up to 8.6% in the final six months.
Total revenues jumped 10.2% to £84.1 million.
It said its performance had been boosted by recent moves to install new “pins and strings” technology in its lanes, which has been rolled out across 70% of its 45 bowling alleys so far.
The technology – which uses strings attached to the pins to reset and remove once knocked down – has improved the efficiency of how pins are removed, which makes for a smoother game and boosts alley turnover.
Ten Entertainment has also given four of its sites a makeover, including one which has been given extra investment to become a “concept site”, where the group will trial new family entertainment ideas.
It already offers a variety of other entertainment activities alongside bowling alleys, such as table tennis, soft play, escape rooms, and laser games.
The group added it is on track to open a new bowling alley at Manchester Printworks in the first half of 2020.
Duncan Garrood, chief executive of Ten Entertainment, cheered “another strong year, delivering profitable sales growth”.
“We continue to innovate, increase our footprint and improve the quality of our offering which positions us well for future growth,” he said.
The group now runs around 1,100 lanes across its bowling alley chain under the Tenpin brand.
Analysts at Liberum said it was a “reassuring” update from Ten Entertainment.
“On-going innovation, investment and expansion opportunities position the company well for the future,” they added.