Turnaround for ten-pin bowling firm is on track

HOLLYWOOD Bowl is on course to grant a special dividend to shareholders after a makeover of its bowling sites saw sales and earnings soar.

The group, which floated on the London Stock Exchange last September, said it was reaping the benefits of the refurbishments and rebranding of its Bowlplex sites into Hollywood Bowl centres. It did up nine of its sites in the year – adding VIP coloured lanes with extra storage, seating and mobile-phone charging points.

It also revamped its dining experience to reflect the American atmosphere, importing open-top Cadillacs into some of its sites so customers can sit in the iconic car while dining.

The move saw sales in the second half of the year grow 10pc against the year before while sales for the full year grew 8.9pc. Same-branch sales increased 3.5pc.

As a result Hollywood bowl said it now expects earnings for the year to be marginally ahead of board expectations.

It added that it is ‘considering returning capital’ to shareholders and a further update will be given during its full year results announcement in December. It will either be in the form of a special dividend or a share buyback.