GOALS Soccer Centres has seen its share price plunge after soft trading saw it trim annual profit forecasts.
The five-a-side football company blamed a combination of poor weather and higher than normal team cancellations over its traditionally weaker summer period.
Goals also announced a step-up in its expansion plans for the United States with chief executive Keith Rogers expected to spend greater amounts of time there from next year.
The site in Los Angeles is now the best performing location in the group with sales up 22 per cent to £600,000 in the half-year and earnings before interest, tax, depreciation and amortisation rising 33 per cent to £343,000.
For the first six months of 2015 the East Kilbride business recorded flat turnover of £17.1 million but said on a like-for-like basis sales fell one per cent.
Underlying pre-tax profit between January and June was £4.5m, up from £4.4m, helped by lower financing charges.
Trading across July and August has continued to be difficult in the UK with like-for-like sales running 10 per cent behind.
While that included tough comparable which were boosted by last year’s World Cup the business also felt the impact of more of its customers choosing to escape the dismal UK summer and holiday abroad.
Mr Rogers said more than one third of team captains the business surveyed had reported problems with player numbers over the summer.
Goals, which employs around 800, said it was now forecasting annual profit of between £9.3m and £9.8m. Analysts had expected profit to be in the £10m to £11m range.
Shares fell 35p, or 18 per cent, to 160p.
Paul Hickman, analyst at Edison Investment Research, said the weak first half and share fall "could be an opportunity for those taking a longer term view of this deeply rooted UK leisure [business]."
Mr Rogers said the business had invested in its largest ever September marketing campaign which included a festival of football and £200,000 worth of prizes.
Enquiries are said to be at record levels this month with the business returning to like-for-like sales growth.
Mr Rogers said: "The first three or four days are looking extremely encouraging as we are into positive like for likes but it is very early days. All the indications are that the company's business will bounce back and this [summer downturn] will be a cyclical event."
Goals is now seeking a managing director to run its UK business with Mr Rogers planning to spend more time on the ground in the US from next year.
Construction on a second site in the Los Angeles area will start imminently with the business investing around £2.4m in the 14-pitch facility.
Heads of terms have been agreed on three other centres in southern California with Goals currently going through the legal processes needed before building work can start.
Mr Rogers said: "The company is massively excited by the opportunity in the US. We have a significant knowledge of that market and have been there with that first centre for a few years now.
"We have absolute confidence that the sites we are going to are the best ones we can get our hands on and that it will be a success.
"We see further expansion. We are looking to build a business in America and you can't do that from afar. It is either all in or not."
However the UK market, where it opened in Manchester in February and in Doncaster in April, is not being sidelined by the company.
Mr Rogers added: "We have got further development in the UK slated in for next year and still have a pipeline."
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