GOAL.L

Goals Soccer Centres Plc
Goals Soccer Centres - Trading Update
28th June 2019, 13:59
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 8831D
Goals Soccer Centres PLC
28 June 2019
 

Goals Soccer Centres PLC

("Goals" or the "Company")

Trading Update

 

In advance of today's AGM, the Company announces an update on trading for the 25-week period ended 22 June 2019.

As stated previously the Company is performing well and is cash generative.  Goals operates a total of 49 small-sided soccer centres, 45 in the UK and four in the USA. Across the 45 sites in the UK gross like for like sales* were up +10.8% and the game count had increased +12.8% year on year. The Company's US sites are trading strongly.

Net Debt levels remain around £29m. As reported on 8 March 2019, whilst Goals has exceeded one of its covenant thresholds, the company continues to work positively with the bank within its existing facilities.

We can confirm that standstill agreements have been issued to the Company's previous auditors KPMG and the Company's previous CFO William Gow.  And for the avoidance of doubt, nothing in these agreements constitutes any admission by the parties of any facts, liabilities, wrongdoing and/or responsibility.

*Gross like for like sales (i.e. inclusive of any VAT that may be applicable) on the basis that this avoids any debate about whether income is exempt or standard rate for VAT purposes excluding the Beckenham North site which has now been disposed of.

28 June 2019

 

Enquiries

Goals Soccer Centres plc

Michael Bolingbroke, Chairman

Andy Anson, Chief Executive Officer

01355 234 800

Canaccord Genuity Limited (Nominated Adviser and Broker)

Chris Connors

Bobbie Hilliam

Richard Andrews

020 7523 8350

Instinctif Partners                                                                                           

Matthew Smallwood

Andy Low

020 7457 2020

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
TSTLLFEVRDITFIA ]]>
TwitterFacebookLinkedIn