Soccer group has positive Goals

POTENTIAL takeover target Goals Soccer Centres will resume its expansion drive next year after a thorough evaluation of a new building method designed to cut the cost and time in erecting its five-a-side facilities.

The group’s first so-called “modular build” centre opened last month in Chester, with delivery on time and budget at £1.5 million. The concept cuts the cost per site by about £800,000, with construction time reduced from 22 to 14 weeks.

Chairman Sir Rodney Walker told investors at the company’s annual meeting in London: “The board will evaluate all aspects of this during the remainder of 2012 with a view to resuming the rollout of more centres from 2013, economic and market conditions allowing.” Goals, which is based in East Kilbride, also highlighted its overseas potential following a steady rise in sales and profits at its sole foreign centre in Los Angeles. Walker said there is “significant potential for further growth” in the US.

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The company put its previously rapid expansion drive on hold in February to “allow strong focus” on its 43 existing centres.

Since then, Aim-quoted Goals has been approached about a potential takeover offer from a Canadian pension fund.

The Ontario Teachers’ Pension Plan has until Monday to make an offer or walk away. A spokesman for the fund could yesterday only confirm that “discussions are on-going”.

Goals said trading had been “in line with expectations” since reporting a 21 per cent rise in pre-tax profits for 2011.

“This is a good result in a difficult consumer environment and reflects the resilience of the brand and the quality of the operational management,” Peel Hunt analyst Paul Hickman said.