Business
Half-year Report
Half-year Report.
About this update from Xp Factory Plc
[{"type":"text","content":"\n \nRNS Number : 9372Q Escape Hunt PLC 18 September 2017 \n\n18 September 2017\n \nEscape Hunt plc\n \nInterim results\n \n \nEscape Hunt plc (\"the Company\" or \"Escape Hunt\"), the global escape game company, announces its interim results for the six months to 30 June, 2017. These results include only two months of trading of the Escape Hunt business, which the Company acquired in May 2017.\n \n \nFINANCIAL AND OPERATIONAL HIGHLIGHTS\n \n· Acquisition of Experiential Ventures Ltd for £12m in May, 2017\n· Placing of 10.4m new ordinary shares to raise cash of £14m before expenses\n· Pre-tax loss of £1.1m, in line with our expectations and including transaction costs of £0.9m\n· Basic loss per share of 7.9 pence\n· Net cash of £12.4m at 30 June, 2017\n· 45 Escape Hunt franchisees at 30 June, 2017\n· Share of franchisees' revenue for the two months since acquisition in line with expectations and an increase of 40% on the same period in 2016\n \nChief Executive Officer, Richard Harpham comments:\n \n\"In a short space of time, we have identified 8 attractive sites in the UK where leases are in the process of completion, and with a strong pipeline of sites for next year. At the same time, we have been reviewing and improving the process of game design and implementation to ensure that both franchisee and owner operated sites can be opened as smoothly as possible. In order to mitigate risk, the completion and fit-out of sites will be carefully staged.\n \n\"Our franchisee activity continues to develop with 45 franchise sites now open and 4 more due to open in the near future. Our share of franchisees' revenue for the two months since acquisition is in line with our expectations and is an increase of 40% on the same period in 2016. Since we acquired the business four months ago, our expectations of the market are being confirmed and we remain confident about the opportunities for the business. Given our ambitious owner operated plans in the UK, the Board has developed a sequentially planned roll-out programme to manage risk and ensure returns are maximised.\"\n ...