Ahead of planned reopening on 17 May, the message of Ten Entertainment Group (TEG) is clear. With tenpin bowling as the driver, it has the product (a successful value proposition enhanced during the pandemic) and the resources (strong balance sheet with over £18m liquidity headroom) to capitalise in both the short and longer term. Despite 2020 sales down 57% because of COVID-19 restrictions investment continued apace (c 70% of 2019 levels), from digital to key refurbishments and 'next-generation' expansion. Consequent scope for lucrative marginal revenue growth on total 1.3m sq ft is a formidable draw, as is the outlook for reopening and beyond. Pent-up demand seems a given in view of TEG's buoyancy after the spring 2020 lockdown (August/September l-f-l sales 77% of prior year despite 50% lane capacity, addressed now by lane dividers), while pandemic fallout should facilitate expansion on advantageous terms.Den vollständigen Artikel lesen ...