Turnaround at Allied Leisure
Friday 03 February 1995
After stripping out the contribution from the night clubs sold recently to Rank, Allied Leisure made a taxable profit of £600,000 from its 16 bowling alleys for the seasonably unfavourable half-year to Christmas Eve.
This compared with a £278,000 loss in the similar period in 1993. The depressed share price rose 3p to 20p.
Damien Harte, finance director, said: "We will look to build on the current progress, and improve the performance of the whole estate. There is a lot to go for in the existing units, but 16 is too small a number that needs to grow."
Expansion in bowling will come from new builds, or buying sites from independent operators.
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