Busi­ness In­sight

Goals Soc­cer Cen­tres

The Daily Telegraph - Business - - Business Comment - Writes Bradley Ger­rard.

Goals Soc­cer Cen­tres will be hop­ing a cash in­jec­tion from the own­ers of Manch­ester City Foot­ball Club will in­still ex­tra pace into the busi­ness af­ter patchy UK sales growth,

City Foot­ball Group, which also owns New York City Foot­ball Club, has put $16m (£12m) into a joint ven­ture which Goals, the five-a-side pitch com­pany, has put its two ex­ist­ing US sites into. Over the next five years, the ven­ture will open at least two US sites an­nu­ally. This comes as like-for-like sales in its sec­ond half will be “slower than orig­i­nally ex­pected” be­cause some sites have not been per­form­ing strongly.

Man­age­ment has up­graded 238 pitches – just over half the to­tal amount – but only sites where there are five or more pitches seem to have seen a sales up­lift af­ter the im­prove­ment. Those lo­ca­tions with four or less have not seen im­proved sales post-in­vest­ment. In the first half of the year, sales rose just over 2pc to £17.3m but in­vest­ment in its es­tate meant pre-tax prof­its dropped by a quar­ter to £2.6m at the Aim-listed busi­ness.

Last year, Goals an­nounced its first loss since it floated in 2004 and axed its div­i­dend.

Goals has en­tered a joint ven­ture with Manch­ester City’s own­ers

Mark Jones Chief ex­ec­u­tive

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