Updates

Ten Entertainment

May 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.

The ten-pin bowling operator again (slightly) beat expectations with revenues of £126.9m and EBITDA of £39.6m (Liberum’s estimate was £37.8m), for an EBITDA margin of 31%. Bowling revenues almost doubled from £30m to £55m; food & beverage went from £19m to £35.3m and machines, amusements & other from £18.6m to £35.6m. Having positioned itself in the value pricing segment it’s capitalising on the increasing popularity of social entertainment while digital innovation (online bookings, comparing scores etc.) and a newly launched loyalty app have added to its universal appeal. Revenue per head increased 8.9%, in spite of lowering average realized price per game marginally to £5.13, as promotions and cheap deals (a family of fo ...

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Luceco - Net debt to be virtually eliminated by FY24

S4 Capital

Ten Entertainment (January 2024)

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

Ten Entertainment (February 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)

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