REG - XP Factory PLC - Trading Update

XP FactoryAnnouncement

08/05/2024 07:00

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RNS Number : 4787N  XP Factory PLC  08 May 2024

8 May 2024

XP Factory Plc

("XP Factory", the "Company" or the "Group")

Trading Update

"Continued growth in Q1 sees performance in line for the financial year to 31
March 2024"

XP 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 15-month period to 31 March 2024. This follows the
recent release of interim results for the 12 months to 31 December 2023,
announced on 19 March 2024 and the previously announced change to our
year-end.

Highlights:

 ·             Group turnover in the 15 months of £57.8m (12 months to Dec 2022: £22.8m)
 ·             Strong like for like sales growth delivered across both brands in the 13 weeks
               to 31 March 2024, follows an exceptional year in 2023:
 ·                                                       Boom: up 11.6%
 ·                                                       Escape Hunt: up 11.7%
 ·             Overall performance has been in line with market expectations for the
               financial year to 31 March 2024

 

Trading

The Group experienced a strong end to the financial year, supported by double
digit like for like growth in the three months to 31 March 2024, in line with
the Board's expectations.  Group turnover for the 15 months to 31 March 2024
grew to £57.6m (12 months to Dec 2022: £22.8m), up over 80% on the
comparable 15-month period.  As stated in our interim results for the 12
months to 31 December 2023, the increase reflects robust like-for-like growth,
the full year inclusion and maturing of sites opened in the latter part of
2022, and expansion of the owner operated estates of both Boom and Escape
Hunt.

Escape Hunt

Escape Hunt had another strong period of trading, ending an exceptional
fifteen months.  Like for like sales growth within the Group's owner-operated
estate was 11.7% in the 13 weeks to 31 March 2024 (13% in the UK). Total sales
within the owner operated estate were c.£17 million.

Boom Battle Bar

Sales from the Boom owner operated estate were c£36.5m (12 months to Dec
2022: £9.5m), with like for like sales up 11.6% in the 13 weeks to 31 March
2024.

Franchise revenue for the 15 month period was c.£2.3m (12 months to Dec 2022:
£2.8m), reflecting underlying growth offset by the smaller estate, as sites
have been bought back, and the inclusion in the 2022 numbers of £0.9m revenue
relating to the sale of a pre-built franchise unit.

Group

Overall performance is in line with market expectations for the 15 months to
31 March 2024.

As set out in previous communications, the Company expects to publish audited
financial statements for the 15 months to 31 March 2024 during the summer, and
in any event before 30 September 2024.

Commenting, Richard Harpham, Chief Executive of XP Factory plc said "The
Group's continued strong performance in the final three months of the
financial year culminates a period of exceptional growth and development
within the business.  Trading in April has continued the positive momentum.
Our investments into new sites are generating industry leading returns setting
the business well to generate growth in shareholder value and providing the
blueprint to continue our expansion."

 

 

Enquiries:

 XP Factory Plc                                                          +44 (0) 20 7846 3322

 https://www.xpfactory.com/ (https://www.xpfactory.com/)

 Richard Harpham (Chief Executive Officer)

 Graham Bird (Chief Financial Officer)

 Kam Bansil (Investor Relations)

 Singer Capital Markets, NOMAD and Broker                                +44 (0) 20 7496 3000

 https://www.singercm.com (https://www.singercm.com)

 Peter Steel

 Alaina Wong

 James Todd

 IFC Advisory - Financial PR                                             +44 (0) 20 3934 6630

 https://www.investor-focus.co.uk/ (https://www.investor-focus.co.uk/)

 Graham Herring

 Florence Chandler

Notes to Editors:

About XP Factory plc

 

The XP Factory Group is one of the UK's pre-eminent experiential leisure
businesses which currently operates two fast growing leisure brands.  Escape
Hunt is a global leader in providing escape-the-room experiences delivered
through a network of owner-operated sites in the UK, an international network
of franchised outlets in five continents, and through digitally delivered
games which can be played remotely.

Boom Battle Bar is a fast-growing network of owner-operated and franchise
sites in the UK that combine competitive socialising activities with themed
cocktails, drinks and street food in a high energy, fun setting.  Activities
include a range of games such as augmented reality darts, Bavarian axe
throwing, 'crazier golf', shuffleboard and others.  The Group's products
enjoy premium customer ratings and cater for leisure or teambuilding, in small
groups or large, and are suitable for consumers, businesses and other
organisations. The Company has a strategy to expand the network in the UK and
internationally, creating high quality games and experiences delivered through
multiple formats and which can incorporate branded IP content.
(https://xpfactory.com/ (https://xpfactory.com/) )

 Facebook:   EscapeHuntUK       BoomBattleBar
 Twitter:    @EscapeHuntUK      @boombattlebar
 Instagram:  @escapehuntuk      @boombattlebar

 

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