Updates

Ten Entertainment

August 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The ten pin bowling operator has announced its final results for the year to 31 December, which showed pretax profit rising almost 15% to £15.4m and eps increasing 16% to 19.3p. These are somewhat dated due to Covid-19. However, it swiftly took advantage of the government’s support, placing 99% of its employees on furlough and cut costs, which reduced its monthly cash burn by 70% to £1.4m. It also raised £5m through a share placing (5% of share capital) to shore up its balance sheet. Together with its £25m revolving credit facility, this gives it just over £30m headroom. The outlook has further lifted with shops and pubs able to open again (albeit with social distancing) and the h ...

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