Goals set to miss target after snow clogs roads

GOALS Soccer Centres is set to reveal tomorrow that the snow which fell across Britain in January will hit its profits by around £300,000.

While the pitches at Goals' 30 centres can easily be cleared of snow, trading is thought to have been hit because the roads leading to its sites remained blocked, in some cases for several days.

Aim-listed Goals has not given any guidance to the market about the cost of the snow, but analysts appear united about the impact.

This week, Paul Hickman at KBC Peel Hunt, Goals' house broker, forecast that its earnings before interest and tax (EBIT) would be cut by 300,000 in 2010. A day earlier, analysts at Brewin Dolphin also predicted that Goals' (EBIT) would be reduced by 300,000.

If confirmed, it will be the second straight year that Goals has reported a significant hit from heavy snow.

In February 2009 the East Kilbride-based company said extreme weather had cost it 700,000, with some sites closed for a week.

Tomorrow the company will publish its 2009 results, which are expected to show a 7 per cent increase in pre-tax profits to 8.8million on revenue up 10 per cent at 26.4m.

Analysts have long talked up the so-called defensive qualities of five-a-side football companies, with few players pulling out of competition even when they become unemployed.

While like-for-like revenues are expected to be flat this year, Goals continues to grow by rolling out new centres.

Goals is expected to open up to seven new sites this year, with two – Eltham and Liverpool – already trading.