Goals Soccer Centres to raise £16.5m to refurbish ageing sites

Discussion in 'Market News' started by Lily, Jun 3, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Company unveils plans to invest in centres and expand overseas

    Goals Soccer Centres is raising £16.5m to help spruce up its 5-a-side football sites to make up for years of under-investment.

    The company, which earlier this year reported a £6.2m full year loss amid increased competition, said it would place 16.75m shares are 100p each. The move comes after a strategic review of its operations.

    Our initial reaction to the strategic review and the accompanying fund raise of £16.75m is that neither are as radical as they could have been. Most of the spend will be geared to improving existing facilities in order to recapture lost market share and making the product more premium.

    Given key competitor Powerleague has announced similar plans and wider competition is intense, we question whether the actions outlined will be enough to deliver sustainable UK growth or just stabilise the business.

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