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Scots business scores profits despite challenging environment

Category: Scotland Success Stories — Gary Cain on March 8, 2013

An East Kilbride-based firm has announced pre-tax profits for 2012, despite facing a challenging year on a number of fronts.

Goals Soccer Centres reported a three per cent increase in its profits, amounting to a £9.5million realisation. The firm also announced increased sales for the year, with a seven per cent rise amounting to £32.5million.

However, the firm, which has more than 40 sites across the UK, said it was a difficult year. Business was negatively affected by the London Olympics, for example, and the Queen’s Jubilee earlier in the year also coincided with a downturn.

Through the whole year, the firm saw its core football business and party business both increase. However, its corporate events were significantly down, by 12 per cent, and bar sales down by seven per cent as visitors reduced their alcohol intake.

The year also saw company shareholders decline a takeover, despite the approach receiving the board’s backing.

Takeovers and mergers are rife in Scotland at the moment, many fuelled or fought by financial strategies such as invoice discounting and factoring.

There were also a number of high profile costs for Goals through 2012. The aborted takeover cost £1.5million in professional fees, for example. Exceptional item costs, including the redundancy of its IT system, also amounted to £6.9million.

The firm is looking forward to a bright future though, with it saying the new year has started well.

With one site in Los Angeles too, the 2004 flotation of the company has seen business grow by over 300 per cent and the number of employees swell to 800.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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