Goals Soccer Centres back in black; shares rise

Shares of East Kilbride-based Goals Soccer Centres rose about 8% after it said 2016 sales edged up 1.6% to £33.5 million amid an investment programme and it made a statutory profit before tax of £3.7 million compared to a loss of £6.2 million in 2015.

Goals also said sales for the first 11 weeks of 2017 were above the revenue levels achieved during the strong start to last year and that it was planning further expansion in the United States.

The turnaround in fortunes followed major upheaval at the firm.

Former casinos and pubs executive Mark Jones joined Goals from Rank Group in July 2016 as its new chief executive officer following a turbulent year in which its share price lost more than half its value.

And Inter Milan chief executive Michael Bolingbroke joined Goals as senior independent non-executive director in June.

Jones said: “In the last six months we have made good headway executing our plan: 136 pitches re-laid resulting in a much more attractive proposition for customers; development of the new clubhouse format which will be trialled later this year; and progress on the food and beverage proposition. 

“Additionally, we have had a successful launch of our second club in the USA and are due to commence construction of our third club in H1 2017.

“We are delivering a better product which is already showing in the numbers and are confident that we can realise our ambitions.”

Shares rose to around 103p to give Goals a stock market value of more than £77 million.