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SBD Global/October 13, 2017/Finance

Shares In Goals Soccer Centres Rise Following CEO's Decision To Step Down

Shares in five-a-side specialist Goals Soccer Centres "shot up" on Thursday after it said that its CEO was "stepping down," according to Emma Haslett of CITY A.M. The company's shares rose 3% to 93p in early trading after it said in a statement that Mark Jones notified the board of his "intention to take another role in the private sector." Last month, shares in the company "slumped" 10% after it said that profits had fallen 25.7% to £2.6M in the six months to the end of June. It admitted its turnaround plan was taking "slightly longer than anticipated," thanks to under-performing clubs which had "not received the required level of arena investment." It also said that it was "highly cautious" about pressure on consumer spending (CITY A.M., 10/12). PROACTIVE INVESTORS' Jon Hopkins reported the firm -- which has 48 sites, including two in California where it has a partnership deal with Man City -- said that its first-half operating costs increased to £12.5M from £11.1M as staff costs, higher business rates and a modernization program "took their toll." In April, Goals confirmed press reports that it is in talks with rival Powerleague but said that it is just one of the "strategic opportunities currently being assessed" by the group. It has not provided any update on the talks since (PROACTIVE INVESTORS, 10/12).
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