Business
Trading Update and Change of Financial Year End
Trading Update and Change of Financial Year End.
About this update from Xp Factory Plc
[{"type":"text","content":"\n\n4 August 2023\nXP Factory Plc\n \n(\"XP Factory\", the \"Company\" or the \"Group\")\n \nTrading Update and Change of Financial Year End\n \n\"Transformational growth delivered\"\n \nXP Factory, one of the UK's pre-eminent experiential leisure businesses operating the Escape Hunt and Boom Battle Bar brands, is pleased to provide an update on trading for the six months to 30 June 2023.\nH1 2023 Highlights:\n\n\n\n· \n\n\nGroup turnover of £18.8m up 131% (H1 2022: £8.1m)\n\n\n\n\n· \n\n\nDouble digit like-for-like sales growth delivered across both owner-operated brands:\n\n\n\n\no \n\n\nBoom: up 19% in the 26 weeks to 2 July 2023\n\n\n\n\no \n\n\nEscape Hunt: up 20% in the 26 weeks to 2 July 2023\n\n\n\n\n· \n\n\nOwner operated site level EBITDA1 of c.£3.8m up 245% (H1 2022: £1.1m)\n\n\n\n\n· \n\n\nFranchise EBITDA of c.£1.5m up c.30% (H1 2022: £1.1m)\n\n\n\n\n· \n\n\nBoom franchise sites in Chelmsford and Ealing acquired in June 2023\n\n\n\n\n· \n\n\nContinued high ratings from customer reviews\n\n\n\n\n· \n\n\nRecord pre-bookings for corporate sales provides confidence underpinning expectations for full year\n\n\n\n\n· \n\n\n£3.6m cash as at 30 June 2023 (31 Dec 2022: £3.2m)\n\n\n\n\n\n\n\n\n1. site level EBITDA calculated before IFRS16 Adjustments and before pre-opening costs.\nTrading\nTrading in the six months to 30 June 2023 reflects the transformational expansion of the Group during 2022. Turnover grew over 130% to £18.8m (H1 2022 £8.1m) driven by an increase in the number of sites open compared to the same period in 2022 and strong like-for-like growth in both Boom Battle Bar and Escape Hunt. As at 30 June 2023, the Group comprised 27 Boom Battle Bar sites, 13 owned and 14 franchised (H1 2022: 17, of which 4 owned and 13 franchised), and 46 Escape Hunt sites, 23 are owned and 23 franchised (H1 2022 42, of which 19 owned and 23 franchised). \nEscape Hunt\nTurnover from the Escape Hunt owner operated business was £6.1m, up 41% on the same period in 2022 (H1 2022: £4.3m). Like-for-like growth across the estate, adjusting for the VAT b...