Brace of profit warnings for Goals Soccer Centres

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A five-a-side football pitch operator has issued its second profit warning in two months after a hoped-for bounce in post-summer bookings failed to materialise. 

Goals Soccer Centres, which runs 46 UK centres and one in Los Angeles, slashed its profit forecast for the year by £1.1 million, from between £9.3 million and £9.8 million in September to between £8.2 million and £8.6 million. 

Before September’s warning analysts had been predicting  £10.9 million for the year, up from £10.6 million in 2014. Summer bookings had been hit as players instead jetted off on holiday. 

The group said: “While we have made progress since September 9 … the speed of this recovery has not been at the level anticipated.” 

Goals recommended a £73 million takeover bid from the Ontario Teachers’ Pension Plan three years ago, but the 144p-per-share offer was rejected by shareholders. 

Shares fell 15.5p to 138p. Broker N+1 Singer, which cut its share price target to 120p, said: “We are increasingly coming to the view that the UK business is ex-growth.”

Source Article from http://www.standard.co.uk/business/business-news/brace-of-profit-warnings-for-goals-soccer-centres-a3110136.html

November 9, 2015 |
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