Updates & Ideas

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

November 2022

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.

Barclaycard reported September spend of +1.8% year-on-year (below August’s peak of +20.8%) but out-of-home spend remains a relative winner with people’s desire to make up for lost time, with hospitality spend +21%, after +26% in August. This got me thinking about Ten Entertainment (epic code: TEG), which alongside Hollywood Bowl (BOWL, 200p) is the kingpin in the UK’s ten-pin bowling industry. A new note from Liberum suggests it costs just £66.78 for a family of four to play two games at a TEG outlet and have a burger and fries each, which is cheaper than Wagamama and Five Guys and the kind of expenditure that families could maintain while cutting down on big ticket items such as new cars, kitchen / bathroom refurbs and sofas. Dril ...

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Ten Entertainment (January 2024)

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

Ten Entertainment (May 2023)

Ten Entertainment (February 2023)

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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