Goals Soccer Centres
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