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Ten Entertainment - Offers deep value at FY’23 PE of 6.7 in spite of upgrades

November 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:
  • 216p
Barclaycard reported September spend of +1.8% year-on-year (below August’s peak of +20.8%) but out-of-home spend remains a relative winner with people’s desire to make up for lost time, with hospitality spend +21%, after +26% in August. This got me thinking about Ten Entertainment (epic code: TEG), which alongside Hollywood Bowl (BOWL, 200p) is the kingpin in the UK’s ten-pin bowling industry. A new note from Liberum suggests it costs just £66.78 for a family of four to play two games at a TEG outlet and have a burger and fries each, which is cheaper than Wagamama and Five Guys and the kind of expenditure that families could maintain while cutting down on big ticket items such as new cars, kitchen / bathroom refurbs and sofas. Dril ...

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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.

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