Five-a-side firm wide of annual targets

● Goals Soccer Centres relegates profit forecast as recovery continues

2018.” Chairman Nick Basing said: “Our recovery plan remains a ‘work in progress’, with 2017 being a period of substantial investment in the UK and significant improvement achieved where major investments have been made.

“We are excited by the progress and the future of our strategic joint venture with City Football Group in North America.

“With our new developments in North America and further investment in our UK business, we are confident that we can deliver improved returns, over time, for Goals shareholders.”

The business also addressed its leadership, noting that further to the announcement in October, chief executive Mark Jones will step down from the board and leaves the business on Friday.

The search for his replacement “is at an advanced stage and we hope to be able to update on this shortly”, with chief financial officer Bill Gow taking on Jones’ responsibilities on an interim basis.

The firm said in September that interim profits slumped by more than a quarter yearon-year to £2.6m and said its turnaround was taking longer than expected.

Shares in Goals Soccer Centres ended down 6 per cent, or 5p, at 73p.