Australia-based leisure company Ardent Leisure Group has reported a rise of 11 per cent in core earnings and a 15.6 per cent increase in revenue for the full year to 2016.
The company recorded growth across every division, with bowling in particular performing well. Bowling revenue grew 12 per cent to AU$130.5m (US$99.5m) and EBITDA grew 30.3 per cent to AU$18.2m as the strategy to transition from solely bowling to a multi‐attraction entertainment business gained momentum. The company has invested in new amusement games, F and B menus in all centres and improved customer service, which has resulted in four consecutive quarters of constant centre revenue growth.
“Bowling was a standout performer in FY16, reporting four back‐to‐back quarters of constant centre revenue growth as management continued to transition the business from traditional bowling into a multi‐attraction entertainment experience,” chief executive officer Deborah Thomas said.
Also performing strongly were Ardent’s Main Event locations, 27 bowling-anchored FECs located throughout the US. Main Event revenue is up 21.6 per cent to US$174.7m, with EBITDA up 18.7 per cent to US$43.5m.
Thomas added: “The revenue growth we achieved at Main Event in FY16 was underpinned by the successful opening of seven new centres ‐ six of them outside Texas ‐ that not only diversified our portfolio but reinforced the depth of our broader roll‐out opportunity across the US.
“Critically, the centres we opened in FY16 are on track to exceed our EBITDA investment hurdle of 30 per cent ROI, which we have consistently achieved since launching Main Event’s accelerated expansion roll‐out in 2012,” she said.
Additional growth was seen in the company’s theme park division, with EBITDA growing 8.5 per cent to AU$34.7m and revenue growing eight per cent to AU$107.6m.
