Goals Soccer Centres slumps to annual pre-tax loss

Five-a-side football company Goals Soccer Centres has reported its first annual pre-tax loss in 12 years.

The East Kilbride-based firm posted a loss of £6.2m last year, compared with a profit of £6.8m in 2014.

Goals blamed the fall on increased competition from new grant-aided full-size 3G pitches.

It claimed league operators had a competitive advantage in part because they did not have to invest in their own facilities.

The company, which operates 46 centres in the UK and one in California, reported that group sales fell by 4.9% to £33m last year.

Like-for-like sales in the UK fell by 6.7% but US sales rose by 8.4%.

Underlying pre-tax profit fell by 21.7% to £8.3m, while the firm took an exceptional charge of £14.5m, made up of "goodwill, asset impairment and software development".

'Disappointing year'

The company has been seeking to turn around the fortunes of its UK business in the face of increasingly tough competition.

Goals has said it will not be seeking new sites in the UK "in the foreseeable future". It is also undertaking a review of "all aspects of the business".

In the annual results statement, chairman Keith Edelman announced he had stepped down from the board.

He has been replaced by Nick Basing, who joined the board in November.

Mr Basing said: "2015 was undoubtedly a disappointing year, however Goals still has a very sound operating model.

"I will be continuing to spearhead the ongoing review into every aspect of the business to develop a new strategy to improve performance and returns, partly based around a re-investment programme to rejuvenate and grow the business.

"It is pleasing to see early signs of our work so far with a return to very modest, positive like-for-like sales in the first nine weeks this year."