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Anthony O. Golyanov
Ten Entertainment Group said on Wednesday that it posted a pretax profit in the first half of the year and its results for the year were in line with expectations, thanks to record sales growth.
The British family entertainment centre operator said it made a pretax profit of 21 million pounds ($23.9 million) for the 26 weeks to June 26, compared with a pretax loss of 10.8 million pounds in the first half of 2021.
Revenue rose to £63.2 million from £10.6 million a year earlier.
The company said sales rose to £63.2 million from £10.6 million a year earlier, as it recorded 26 weeks of trading during the period, compared with just six weeks last year due to the pandemic.
Ten Entertainment said the first half also benefited from record-breaking February and May half-term deals and a special Easter period. It added that positive sales trends have continued since the end of the first half, with total sales for the 11 weeks since June 27 up 47% compared to 2019 and 1.1% compared to the same period in 2021 .
Chief executive Graham Blackwell said: “We are bucking the trend in hospitality and leisure and our value for money customer proposition continues to deliver strong returns for our shareholders.”
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
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