Richard Harpham of XP Factory: We're a very fast growing business in exactly the right space
Episode 1456, May 26, 2023, 06:31 AM
Richard Harpham CEO of XP Factory #XPF discusses their final results for 2022 which saw revenue grow by 228% to £22.8m and says we're a very fast growing business in exactly the right space.
FINANCIAL HIGHLIGHTS
£22.8m Group revenue - up 228% vs prior year (2021: £7.0m)
£2.6m adjusted EBITDA pre IFRS16 (2021: loss £0.6m)
£9.8m Escape Hunt™ owner-operated revenue up 62% vs prior year (2021: £6.0m)
£9.5m Boom Battle Bar™ owner-operated revenue of in its first full year of operation
£1.3m Group operating profit (2021: loss of £0.5m)
35% return on capital across Escape Hunt owner operated estate
£3.2m cash at year end (2021: £8.2m) and £4.0m on 30 April 2023
OPERATIONAL AND STRATEGIC HIGHLIGHTS
Successfully integrated Boom Battle Bar into XP Factory Group
Opened 27 Boom sites by the end of 2022 - 11 owner operated and 16 franchised
Acquired Boom franchise sites in Norwich and Cardiff
Opened 4 new Escape Hunt sites and relocated 1 other, expanding UK estate to 23 venues (2021: 19)
Achieved 97% customer satisfaction ratings across both brands
Secured £3.3m credit facility with fit-out providers for new Boom owner operated sites
POST YEAR END
3 Boom sites and 1 Escape Hunt currently in build, with a developed pipeline underpinning site roll-out targets for the year
44% LFL sales growth delivered across Q1 2023 in the Boom sites that were trading last year, with operating metrics maturing as expected
Boom franchise sites performing in line with the Board's expectations
32% LFL sales growth across the Escape Hunt owner operated estate, with overall trading ahead of the Board's expectations in Q1 2023
To read the full RNS click here
FINANCIAL HIGHLIGHTS
£22.8m Group revenue - up 228% vs prior year (2021: £7.0m)
£2.6m adjusted EBITDA pre IFRS16 (2021: loss £0.6m)
£9.8m Escape Hunt™ owner-operated revenue up 62% vs prior year (2021: £6.0m)
£9.5m Boom Battle Bar™ owner-operated revenue of in its first full year of operation
£1.3m Group operating profit (2021: loss of £0.5m)
35% return on capital across Escape Hunt owner operated estate
£3.2m cash at year end (2021: £8.2m) and £4.0m on 30 April 2023
OPERATIONAL AND STRATEGIC HIGHLIGHTS
Successfully integrated Boom Battle Bar into XP Factory Group
Opened 27 Boom sites by the end of 2022 - 11 owner operated and 16 franchised
Acquired Boom franchise sites in Norwich and Cardiff
Opened 4 new Escape Hunt sites and relocated 1 other, expanding UK estate to 23 venues (2021: 19)
Achieved 97% customer satisfaction ratings across both brands
Secured £3.3m credit facility with fit-out providers for new Boom owner operated sites
POST YEAR END
3 Boom sites and 1 Escape Hunt currently in build, with a developed pipeline underpinning site roll-out targets for the year
44% LFL sales growth delivered across Q1 2023 in the Boom sites that were trading last year, with operating metrics maturing as expected
Boom franchise sites performing in line with the Board's expectations
32% LFL sales growth across the Escape Hunt owner operated estate, with overall trading ahead of the Board's expectations in Q1 2023
To read the full RNS click here