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Ten Entertainment

May 2023

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:
  • 285p
The ten-pin bowling operator again (slightly) beat expectations with revenues of £126.9m and EBITDA of £39.6m (Liberum’s estimate was £37.8m), for an EBITDA margin of 31%. Bowling revenues almost doubled from £30m to £55m; food & beverage went from £19m to £35.3m and machines, amusements & other from £18.6m to £35.6m. Having positioned itself in the value pricing segment it’s capitalising on the increasing popularity of social entertainment while digital innovation (online bookings, comparing scores etc.) and a newly launched loyalty app have added to its universal appeal. Revenue per head increased 8.9%, in spite of lowering average realized price per game marginally to £5.13, as promotions and cheap deals (a family of fo ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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