Richard Harpham of XP Factory: We are the fastest growing leisure business in the UK
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Richard Harpham CEO of discusses the financial and operational progress across the group that points to them being the fastest growing leisure business in the UK today and trading is exceeding their box economics.
INTERIM RESULTS
FINANCIAL HIGHLIGHTS
· Group revenue of £8.1m (2021: £1.2m) demonstrates a significant growth in scale and includes:
- Escape Hunt owner operated site revenue increased to £4.3m (2021: £0.9m)
- Boom Battle Bar revenue of £3.6m comprised £2.2 from owner operated sites and £1.4m from franchises
· Group Adjusted EBITDA1 profit of £1.1m (H1 2021: loss £0.8m)
· Site level EBITDA profit of £3.1m (H1 2021: profit £0.4m)
· Group Operating loss of £2.4m (H1 2021: loss £2.2m)
· Loss per share of 2.2p (H1 2021: loss of 2.81p)
· Cash at 30 June 2022 of £5.2m (30 June 2021: £2.4m)
OPERATING HIGHLIGHTS
· Significant progress made in establishing the UK owner operated network both for Escape Hunt and Boom
· 17 UK Boom sites open at 30 June 2022 - 4 owner operated and 13 franchised
· 19 owner-operated Escape Hunt sites open at 30 June 2022
· Pipeline of additional new sites well established for both businesses
· Escape Hunt exceeded its pre IFRS 16 target site level EBITDA margin (39% vs 30%)
· Boom Battle Bar owner operated sites already beginning to demonstrate their ability to achieve mature target EBITDA margins
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