Ten Entertainment (TEG)

Ten Entertainment TEG Logo

A UK based ten-pin bowling operating company, which is focused on the family entertainment market, with sites that are typically located on mixed-use retail/leisure parks.

18-Jan-2018 – 262p – £170.3m – PER 13.8

Trading Update For The 12 Months To End December 2017 – In-line with the growth strategy (LFL Revenue up 3.6% (7% in the second half). Expects EBITDA to be at the top end of the range of current market consensus. Encouraged by the performance of the new innovative “Pins & Strings technology” currently being rolled out.

Seems I missed the boat here on this one, still keeping an from the side-lines for now. Still on my Watchlist, 210p.

21-Mar-2018 – 251p – £163.2m – PER 13.0

Results For The 12 Months To End December 2017 – Revenue up 5.5% to £71.0m (52 weeks vs 53 weeks, 8.9% over 53 weeks), Reported Profit After Tax up 43% to £5.2m (FY16: £3.6m). IPO exceptional costs of £3.1m, Adjusted EPS up 18% at 16.2p, Total FY Dividend of 10.0p. 2018 (11 weeks) started with LFL Revenue affected by weather, 1.7% up instead of 2.8%.

Just going to leave this on my Watchlist at 210p for now.

Subsequent note: Meeting my Technical Screen and after checking and liking the fundamentals I bought in here at the beginning of June.

12-Jul-2018 – 262p – £170.3m – PER 12.7

Trading Update For The 26 Weeks To 1st July 2018 – In-line to deliver on FY expectations.

I am long here and in-line, based on Stockpedia figures, means EPS +53.2% – On a PER of 12.7 with an attractive ROCE and Operating Margin, little Debt and a decent Dividend – I will continue to hold.

12-Sep-2018 – 256p – £166.4m – PER 12.1

Results For The 26 Weeks To 1st July 2018 – Weather blamed for Revenues up just 7.7% to £37.8m, Adjusted PBT up 0.4% at £6.4m (HY17: £6.4m) – The Interim Dividend is up10% to 3.3p. Now expects FY to be broadly in-line with expectations.

I am long here and not being sure how much of this is built into the current price (we all knew about the weather eh!) – Will keep an eye on price action and another eye out for broker notes.

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