Goals Soccer Centres (AIM: GOAL) – results in-line, snow disrupts but California beckons
The AIM quoted operator of 'next generation' 5-a-side soccer centres with 45 centres in the UK and one in Los Angeles, USA announced final results for the financial year ended 31 December 2014.
The Group appears to have made a great deal of progress over the past 12 months and its disappointing that poor weather has impacted the start of the season.
However, the centre in California appears to be doing very nicely suggesting plenty of potential in the Golden State
Group sales of £34.7m were broadly flat on the prior year (2013:£33.7m) with like for like sales growth of 2%. EBITDA was amazingly the same as the prior year at £14.8m with underlying profit before tax up 10% at £10.6m and underlying diluted earnings per share 14.5p. There were some notable exceptional costs during the period including £2.7m to exit an interest rate swap, £0.5m cost of a bank arrangement fee and £0.6m provided against due to introduction of new app (see below). We hope the last of these will be avoided in the future following the introduction of the…