Pre-tax profits rose 3% to £9.5m in 2012, though £6.9m in exceptional costs reduce profits to £2.6m
Goals Soccer Centres has reported a three per cent rise in pre-tax profits for 2012 to £9.5 million pre exceptionals - on a seven per cent rise in turnover to £32.5 million.
The five-a-side football facility operator, which has 43 UK centres and a US outlet in Los Angeles, described its performance as resilient in a challenging economic climate".
East Kilbride-based Goals said its business was also disrupted in the financial year as a result of the London Olympics, the Jubilee and Euro2012.
Exceptional costs totalling £6.9 million are reported, leaving a pre-tax profit including those costs caome in at £2.6 million - a 71 per cent fall on the £9.2 million pre-tax profit reported last year.
Those exceptional costs include £1.5 million in professional fees linked to last year's £73.1 million takeover approach by the Canadian-based Ontario Teachers' Pension Fund, successfully appealing a VAT ruling with HM Revenue and Customs and bank arrangement fees for financing.
The Ontario Teachers' Pension Fund bid was abandoned last year after failing to attract sufficient shareholder support.
Further exceptional items reported for the 2012 year include £2.1 million in development cost write-offs linked to the company's move to modular build centres; a £2 million reduction in net debt; and £1.8 million linked to social media investment.
Exceptional income of £0.5 million is also reported relating to VAT on 2011 league bookings.
Goals said the £4.7 million development cost of its US facility in Los Angeles, based on current trading levels, is currently impaired to the tune of £2 million.
Net debt was cut to £50.2 million at the year ending December 31, 2012, down from £53.2 million the previous year.
Goals said overall like-for-like sales for the year were up one per cent, with corporate event sales down 12 per cent in the year and bar and vending sales were down four per cent.
Core football sales, which the group said accounts for 75 per cent of total sales, rose three per cent and birthday party event sales rose by one per cent, despite a 19 per cent rise in children's birthday parties.
In interim results posted today, Goals said the lower revenue increase was the result of a national online 'special offer' campaign designed to increase the number of parties held.
It added: The significant growth witnessed has already lead to improved party bookings in 2013 as last year's guests become this year's bookers.
Margins for the year rose to 89.4 per cent (2011: 88.4 per cent) on higher margin football product which rose to 75 per cent of total sales against 73 per cent the previous year.
Goals adds its average annual overheads per centre increased by four per cent to £286,000 principally due to an increase in the rateable values of our centres which has seen rate payments increase by £0.65 million in the past two years.
The group said these revaluations remain under discussion with The Valuation Office Agency, adding a number of the current valuations may be appealed.
Goals also reduced its capital expenditure to £6.3 million last year (2011: s10.7 million) and no new centres are planned for 2013.
Last September, Goals successfully appealed an HMRC ruling against charging VAT on income from sports leagues, which the company had previously stated would lead to an annual increase in pre-tax profits of at least £500,000 going forward.
Goals said sales are up three per cent on a like-for-like basis in the first eight weeks of the new financial year, excluding the impact of adverse weather, with total sales reported to be up five per cent.
Goals managing director Keith Rogers said: "2013 has started well and we are confident that this will be another year of significant development for Goals and the Goals brand.
Goals Soccer Centres has established itself as the leading small sided football operator in the UK having grown capacity by over 300 per cent since flotation in 2004 to a national network of 43 FA accredited sites.
The management is now taking advantage of its scale and leveraging maximum value from its current estate through partnerships with established UK brands including talkSPORT.
Combined with a new dedicated online social media strategy, Goals aims to further drive pitch utilisation and broaden the target audience."
Last year Goals had reported pre-tax profits of £9.2 million and sales of £30.4 million, which were a rise of 21 per cent and nine per cent respectively on the previous year.
Shares in Goals were down 0.4 per cent in early trading today.