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10 Jan 2012
A VAT DISPUTE has hit Goals Soccer Centres' sales figures.
Sales increased by 9% to £30.3m at the football leisure venues business, with like for like sales up 1%.
However, an ongoing argument with HMRC over standard rate VAT being charged on block bookings of pitches has resulted in overall like for like sales falling 2%.
The VAT issue is expected to be resolved in the Spring.
Goals has also agreed a new four year banking agreement with Bank of Scotland, totalling £56m.
The deal comprises a revolving credit facility of £38m, a term loan of £16m and an overdraft facility of £2million.
These facilities have been negotiated at "competitive market rates", said Goals, adding that it would provide the company with the "financial flexibility to meet our growth aspirations".
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