Ten Entertainment Group Sees FY2021 Return to Profit – MarketWatch

By Michael Susin
Ten Entertainment Group PLC said Thursday that its performance after the loosening of Covid-related restrictions will have delivered a return to profitability in fiscal 2021.
The U.K.-based operator of bowling and entertainment centers said that sales on a like-for-like basis for the 52 weeks ended Dec. 26 increased 29% compared with the 2019 prepandemic period.
Sales were 67 million pounds ($90.8 million) despite the closures, it added. Since May, sales rose 32.4% compared with prepandemic levels. Ten Entertainment expects losses in the first half to be offset by its performance in the second half.
The company said that both sales and profit increased “to record levels and were consistently strong for the balance of the year” after the restrictions were lifted on July 19.
Ten Entertainment added that it expects to open four centers in fiscal 2022.
Write to Michael Susin at michael.susin@wsj.com
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