2 brilliant bargain growth stocks outside the FTSE 100

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Ten pound notes

Ten Entertainment Group(LSE: TEG) remained stable at three-month highs around 167p per share in Wednesday trade following the release of solid first-half trading details.

The ten-pin bowling alley operator declared that total sales had risen 2.2% during January-June, while like-for-like sales rose 0.4% from the corresponding 2016 period. As a result adjusted post-tax profit at the Bedford business detonated 24% to £6m.

Commenting on the results, chief executive Alan Hand said: "I am especially pleased with the impressive increase in our Net Promoter Score to 66% which reflects the improvements we have made to the customer experience over a long period of time.

"During the second half, we will continue to focus on our plans for growth including further site refurbishments, a longstanding and ongoing focus on the customer experience and an extension of the trial of a potentially transformational back of lanes technology." He added that the company aims to boost customer engagement by improving and leveraging its digital and yield management capabilities.

Striking value

Fellow London-listed leisure group Hollywood Bowl has also been reporting a strong upsurge in the popularity of bowling in the UK of late. And against this backcloth City experts predict that Ten Entertainment will post excellent earnings growth.

In 2017 the firm is expected to see earnings ring in at 16.8p per share, before the bottom line swells to 19.3p next year.

And these projections make the bowling behemoth brilliant value for money, the firm dealing on a forward P/E ratio of 9.9 times, falling below the widely-considered bargain benchmark of 10 times.

I believe Ten Entertainment should come under careful consideration from investors at current prices, particularly as takings continue to rev higher -- like-for-like sales in the second half are currently up 3.6%, the company advised today.

And with its refurbishment and acquisition programme still having plenty left in the tank (the firm snapped up three sites in Blackburn, Eastbourne and Rochdale in the first half), I expect earnings growth to impress long into the future.

Build huge returns

The stability of the UK housing market convinces me that the Crest Nicholson (LSE: CRST) bottom line should keep on swelling. And my faith is backed up by latest forecasts from the Square Mile.

During the year to October 2017 the construction corker is predicted to deliver an 8% earnings upswing, to 66.7p per share. And it is predicted to follow this with a 13% improvement in fiscal 2018 to 75p.

And like Ten Entertainment, current predictions make Crest Nicholson exceptional value for money. Not only does the FTSE 250 star boast a prospective P/E rating of 7.9 times, but it also carries a PEG readout in line with the value yardstick of 1.

And this is not the only cause for celebration as the homebuilder also packs plenty of punch in the dividend stakes. A predicted 34.2p per share reward this year yields a formidable 6.5%. And this marches to 7.3% in the following period thanks to a predicted 38.4p dividend.

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Neither Royston Wild nor The Motley Fool UK have any position in Ten Entertainment Group or Crest Nicholson. The Motley Fool UK has recommended shares in Hollywood Bowl. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.