SuperBowl Holdings, the leisure and property investment group, has reported a strong turnaround in full year net profit to $6.4 million on revenue of $15.6 million, compared to a loss of $1.6 million on revenue of $16.4 million a year ago. Earnings per share improved to 1.96 cents, from negative 0.49 cents in FY08.

For FY09, revenue from the property rental division was relatively stable, as was revenue from the bowling business, with each of these contributing about 40% to group turnover. Revenue from Funworld amusement centres and Supercue outlets fell 11.9% and 15% respectively, following the closure of two of these outlets in August 2008.

For the fourth quarter ended 31 December 2009, the group achieved net profit of $1.4 million, compared to a loss of $0.6 million in the previous corresponding period. Revenue declined 9% to $4 million, from $4.4 million a year ago.

The board of directors has proposed a first and final dividend of 0.25 cents per ordinary share.

SuperBowl is hopeful of a gradual pick-up in business activity in the ensuing 12 months, on the back of the economic recovery in Singapore and the region.

The group says it will continue to leverage its partnership with Hiap Hoe to reap greater benefits from its foray into property development. Its joint-venture project, The Beverly, a private residential development at Toh Tuck Road, was launched in the first half of 2009, and is more than 70% sold. Maiden recognition of revenue for The Beverly should commence in the first half of 2010.

In Jan, the group, together with Hiap Hoe, appointed Wyndham Hotel Management, Inc., an international hotel operator, to manage its two hotels located along Balestier Road / Ah Hood Road. The hotels will operate under the Ramada and Days Inn brand names, and are expected to be open for business in 2014.