News Column

Goals Soccer Centres Increase Sales, Profits In First-Half

July 3, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Goals Soccer Centres PLC Thursday said it has delivered an increase in both sales and profits in the first-half of the year.

In a post-close trading update, the company which operates 44 outdoor five-a-side soccer centres in the UK and one in the US, said operational improvements across the business has driven both sales and profit growth in the UK and the US, with sales in the first-half of the year up 3% to GBP17 million, up from GBP16.6 million a year earlier, with like-for-like sales growth of 3%.

Goals Soccer Centres also said Thursday that it is in advanced discussions to put in place a long term non-amortising loan facility of GBP42.5 million to replace its existing banking arrangements.

Back in March, the company raised GBP11 million in a share placing to fund expansion in the UK and US. The company said it remains on course to add one further centre prior to the year end and three centres, including one in the US, in 2015.

"With a healthy pipeline of new sites and the scope to further grow profitability in the existing centres, Goals is well positioned to deliver sustainable growth," the company said.

Goals Soccer Centres said it will release its interim results on September 3.

The company's shares were down 0.4% at 225.60 pence Thursday morning.

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Source: Alliance News

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