XP Factory’s (XP) interims show an improved performance in Escape Hunt (EH) through 2Q but trading at Boom has been more challenging against the backdrop of hotter weather through 1Q and a cautious consumer in 2Q. Competition for Boom remains intense, but the challenging backdrop has meant capacity is starting to come out of the market. We believe Boom remains well positioned to capitalise. While our headline forecasts are unchanged, there is work to do in the all-important 2H, but this is typic ....
