Goals Soccer scores with 2011 results

Goals Soccer Centres, the five-a-side football pitches operator, saw a rise across the board in its preliminary results for the year ended December 31st.

Overall sales were up 9% from £27.8m to £30.4m, while like-for-like (LFL) sales increased by 1%. Operating profit rose 9% to £10.9m from £10.0m and profit before tax was up 21% at £9.2m from £7.6m. This was partly attributed to progress made on establishing a national network of five-a-side soccer centres and increased overall capacity.

However, the firm performed less well in the corporate events, birthday parties and bar divisions, with LFL sales dropping by 4%, 8% and 3%, respectively.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Trading for the current year has got off to a good start with total sales up 6% and LFL sales maintained at the same level, showing "encouraging year on year growth".

Keith Rogers, Managing Director of Goals, said: "2011 has been a year of progress and change for Goals. We have added a further four centres to our estate and pioneered an innovative new modular build strategy that will not only reduce costs going forward, but will also enable us to dramatically cut build time.

"Our first modular site is due to open in Chester this March and is on schedule and budget. Our key strategic focus for 2012 is on driving returns from our current estate, reducing net bank debt, whilst evaluating all aspects of our first new modular build in Chester."

The final dividend payment was 1.175p per share, bring the total for the year to 1.85p per share, unchanged on the previous year.

Shares rose 12.23% to 105.50p by 14:11.

NR