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Goals targets major expansion following strong results
By Pete Hayman
Goals Soccer Centres is planning a major expansion of its 5-a-side football centre network after strong interim results for the first half of 2008.
The company, which operates 29 centres across the UK, announced a 22 per cent increase in its operating profit to £4.6m, compared with the same period in 2007. There was also a 20 per cent increase in the company's pre-tax profits. Earlier this year, Goals acquired rival operator Pro 5 for £7.5m, adding three centres to the company's portfolio, and a further three new sites are due to open by the end of the year in Dudley, Tolworth and Northampton. Sir Rodney Walker, chair of Goals Soccer Centres, said: "Our site pipeline continues to strengthen and has expanded to well over 40 sites. We are confident we will open a minimum of six centres during 2009 and that the rate of openings will increase in 2010 and beyond. "We have put in place a £47.5m revolving credit facility which, together with internally generated cashflow, will be sufficient to finance our planned level of new centre openings." Goals' managing director, Keith Rogers, believes that the company has the potential to set up as many as 150 new sites across the UK, targeting Manchester, Liverpool and Newcastle as areas for expansion. Goals has also secured a franchise agreement in South Africa ahead of the 2010 World Cup, as well as a joint venture which could see the construction of a pilot site in Los Angeles start during 2009.Goals Soccer Centres is planning a major expansion of its 5-a-side football centre network after strong interim results for the first half of 2008.
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