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Joe Hoppe
Ten Entertainment Group PLC said Wednesday it expects strong sales growth in 2022, compared to both the previous year and pre-pandemic levels, to report profits at the high end of its market outlook.
The UK operator of family entertainment venues said total sales growth for the year to 1 January was up 88% compared to 2021 and 51% compared to 2019. This is the closest number to pre-pandemic. Last year’s gross turnover he was £67.5 million ($82 million).
On a like-for-like basis, sales increased 5.5% year-on-year and increased 40% compared to pre-pandemic levels.
The company expects earnings to be on the high end of market expectations, but did not provide figures. Last year he made a profit of £4.4m from a pre-tax loss of £21.7m.
Ten has a healthy pipeline of new centers focused on growth opportunities in the UK, the company said. Costs are managed with operational efficiencies used to minimize the impact of cost inflation without the need to raise customer prices, the company said.
CEO Graham Blackwell said: “We know there will be challenges this year, but with 2022 looking very strong and proven, we will continue to deliver great experiences and high quality. We are confident that we can provide the services of
Ten will report full results on March 22nd.
Please contact Joe Hoppe at joseph.hoppe@wsj.com.
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