19 July 2018 – trading update
A trading update has been provided ahead of interim results, due out on 12 September. Due to poor weather conditions in March and April and the knock-on effect of this, underlying sales were down 3% on last year and results for the full year are expected to be materially worse than anticipated. The company has also announced that CFO Bill Gow is leaving with immediate effect to join his family business. Gow is a founder of Goals Soccer Centres and this is disappointing news. The share price fall looks a little overdone but we move our recommendation to HOLD for now.