By Jaime Llinares Taboada
Ten Entertainment Group PLC said Wednesday that it expects full-year performance to be ahead of previous internal expectations after an exceptional summer.
The U.K.-based operator of bowling and entertainment said it has seen an exceptional level of sales growth on the reopening of its sites, and expects solid underlying demand to continue.
The group intends to use free cash flow in the second half to increase investments, and anticipates four new openings in 2022 in addition to major refurbishments.
Moreover, Ten on Wednesday reported a widened loss for the first half of the fiscal year, as the business was closed for the first 20 weeks of the period.
The company booked a net loss of 8.8 million pounds ($12.0 million) for the six months ended June 27, compared with a GBP5.6 million loss a year earlier–when the business was closed for 14 weeks due to lockdowns.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
