Soccer firm says recovery ahead of track
Goals aims for second half improvement
Five-a-side pitch operator Goals Soccer Centres today admitted that its performance for the first half of the year had been “below potential” but said investment in its sites had seen a recent return to growth.
The East Kilbride-headquartered firm, which has seen a raft of boardroom changes this year including the appointment of new chief executive Mark Jones, saw both sales and profits fall in the six months to June 30.
But the company, which operates 47 sites including one in California, said that in the first 11 weeks of the second half of the year there had been a return to like-for-like sales growth;
Chairman Nick Basing said the company’s recovery plan was paying dividends.
“We have invested more capital in rejuvenating our core estate in the last 3 months than over the last 10 years. I am confident that this strategy will underpin future organic growth.
“There remains much still to do, but I am pleased to say that we are further ahead in the steps to recovery at this stage than we thought we would be. So far so good.”
Sales in the first half dipped to £17m from £17.1m in the same period last year. Profit before tax came in at £3.5m, down from £4.5m.
The firm’s board has been restructured in recent months with the appointment of Jones as CEO and of Inter Milan chief executive Michael Bolingbroke as senior non-independent director. Scott Lloyd and Christopher Mills have also joined as non-executive directors.
The firm’s previous CEO Keith Rogers relocated to the US earlier this year to head up its operations there.