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Primary Recommendations

TEN Entertainment - Ten-pin bowling group increases openings potential

June 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • TEG
  • Price:
  • 250.5p
History suggests low ticket leisure is resilient during a downturn and one such business already doing well is ten-pin bowling. Over the month I met with Antony Smith, CFO of TEN Entertainment. As I reported last month TEN enjoyed whopping 42% sales growth in the first 12 weeks of FY’22 versus the FY’19 period, which led to Peel Hunt making double digit upgrades. As Smith notes, ten-pin bowling is right at the bottom of the affordability scale, with the average price of a game being only £5 (including VAT) while average revenue per head, including food, beverages and video games, is only £18. Smith says TEN has widened the range of experiences in recent years to also include pool, karaoke, laser quest and even Escape Rooms, but even when ...

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