Updates

Ten Entertainment

February 2023

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.

Shares in bowling operator Ten spiked to a high of 292p after its year end update again beat forecasts with like-for-like sales in the year ended December up almost 40% on FY’19! Net cash was £10m despite the full resumption of capex and dividends and settling all Covid-19 obligations. Peel Hunt puts its success down to infrastructure and technology investment, low prices and CRM. It also opened two new sites with a further four expected in 2023 including Crewe in February. Last year’s 11 sites that received significant investment also performed well. With energy costs fixed at low levels until September 2024, Peel’s eps forecasts for FY’23 for 31.9p, which assumes like-for-like sales falling to zero, look well underpinned. ...

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Hunting - Raises 2023 market expectations

Mulberry

Ten Entertainment (January 2024)

Ten Entertainment - Like-for-like sales accelerate (November 2023)

Ten Entertainment (May 2023)

Ten Entertainment - Offers deep value at FY’23 PE of 6.7 in spite of upgrades (November 2022)

Ten Entertainment - Another ‘beat’ triggers 17% upgrade (September 2022)

TEN Entertainment - Ten-pin bowling group increases openings potential (June 2022)

Ten Entertainment (May 2022)

Ten Entertainment (March 2022)

Ten Entertainment (November 2020)

Ten Entertainment (August 2020)

Ten Entertainment - Bowling operator forecast to grow eps 61% between FY'18 - '21 (November 2019)

Ten Entertainment - Ten pin bowling group hitting new highs (December 2017)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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