Business
Trading Statement
Trading Statement.
About this update from Xp Factory Plc
[{"type":"text","content":"\n \nRNS Number : 8061B Escape Hunt PLC 04 February 2020 \n\n4 February 2020\n \nEscape Hunt plc\n(\"Escape Hunt\", the \"Company\" or the \"Group\")\n \nTrading Statement\nConsumer demand for experiences continues to grow\nEscape Hunt plc (AIM: ESC), a leader in the fast-growing escape rooms sector, is pleased to announce a trading update ahead of reporting its results for the year ended 31 December 2019 (\"FY 19\").\nTrading\nThe Company is pleased to report that trading during the 12 months ended 31 December 2019 has shown continued growth, with a particularly strong Christmas period. \nOwner-operated sites\n· The owner-operated sites delivered unaudited revenue of £3.8m (FY18 - £1.1m), a material increase over the prior year.\n· Escape Hunt's three most mature owner-operated sites (Birmingham, Bristol and Leeds), now each 22 months old, delivered a like for like sales increase of 34% in the final quarter of 2019. \n· Across all eight established owner-operated sites, like for like sales increased by 70% in December. Five of these sites were opened in the final quarter of 2018 and hence benefitted from entering the final month of 2019 with a more mature market position.\n· EBITDA from the owner-managed portfolio for the full year was ahead of management's expectations.\n· During 2019 the number of active UK games rooms increased from 38 to 49.\nFranchise estate\n· The franchise estate delivered unaudited revenue of £1.0m which was in line with FY18.\n· Overall performance was satisfactory, with EBITDA in line with management's expectations, albeit with a slight reduction in the number of active franchisees. \n· Good progress has been made with the newly signed US franchise partner. The first game has been shipped and is due to be installed in Houston in the coming weeks. Management remains excited about the longer term prospects for the US franchise business and believes that, in time, the US business will deliver substantial growth.\n \nNew Sites\nThe Company opened a new site at Birmingham Resorts World in mid-December 2019. The site has made a strong start and has been trading ahead of management's expectations since launc...