Goals Soccer Centres sees shares slide on profit warning

Shares in Goals Soccer Centres fell by about 6% on Monday morning after the five-a-side football pitch operator reported a dip in sales for last year.

In a trading update, the East Kilbride-based firm said profits for 2017 would be "broadly in line with the lower end of market expectations".

Total sales increased by 0.5% to £33.7m but like-for-like sales fell by 0.5%.

Goals said the decline had been "exacerbated" by disruption caused by a site refurbishment programme.

In a statement, the company said: "Major arena investment is delivering good sales growth in a large group of sites, whilst minor refurbishment has reduced the rate of sales decline.

"Sites that have yet to receive investment have continued to perform poorly."

Goals has been modernising its centres as part of a strategic plan to turn around the company

It added: "Just over half of our estate has benefited from investment.

"A further £3m of capital will be selectively targeted to further modernise the estate during 2018 to deliver the compelling proposition which customers clearly seek."

Goals Soccer Centres operates a total of 49 sites, three of which are based in North America.

The firm said it was "continuing to show progress" on a turnaround plan launched after a major review of its operations in 2016.

Its final results for 2017 are due to be released on 13 March.