Main Event Swings Back To The Red For April 2021

Main Event has released their results for the 6 months up to April 2021

The company continues to be hit by the slowdown in business due to the pandemic. The company made a small $8m profit in the previous quarter (Jan 2021 quarter), but is now back to the red in this quarter.

• 4 of the last 5 quarters are losses… and 5 of the last 7. They will have a bit of recovery to do

For the last 6 months. They’re reporting

• Revenues of $349.4m vs $884.8m last year, less than 40% of last year’s sales
• A loss of -$19.5m vs $54.2m profit last year
• The business has had to fall back on its recurring revenue, generated from its signage business. That’s now a larger percentage of sales, at 14% vs 6% last year
• The company has managed to cut their debt levels, which has resulted in them having lower interest costs. Interest expenses fell 41% from $8.2m to $4.9m
• Retained earnings down 18% vs last year, an almost $100m reduction, a sign of the losses being borne over the period