Full year numbers from the operator of bowling alleys and other leisure facilities Hollywood Bowl gave markets something to cheer this morning after management noted a strong financial and operational performance. Revenue grew 8.8%, statutory profits were 15.7% higher, shareholder returns have topped £35m and there’s confidence that momentum can be maintained. Despite the squeezed consumer situation, the differentiated business model is seen as appealing to the affordable leisure market. The Hollywood Bowl share price was trading more than 4% higher shortly after the open.
Keeping with the FTSE 250 and investment platform IG Group issued a trading update this morning noting organic trading revenues up 29% and also announcing a further £75m share buyback. Double digit revenue growth was also reported from the US and with the Freetrade operation, with the full year outlook being reiterated. The IG Group share price was up 5% in early trade.
Half year numbers from engineering firm Goodwin may have illustrated a positive start to the year, but this wasn’t reflected in the share price performance. Despite revenues up 27% and trading profits being more than twice the comparative, investors sold down positions. The payment of a special dividend did drive debt levels up significantly and that may be the cause of some unease. By 8.30am, the Goodwin share price was down 6%.
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