Global Edition

Clubhaus Turnover Up 32% In Third Quarter

7.00am 30th November 1999 - Corporate

Another period of strong progress has been reported by the leading quoted European golf course operator and manager of health and fitness facilities. Clubhaus has just completed the acquisition for £12.2million of three UK Golf and Country Clubs: Mentmore Golf and Country Club near Aylesbury, Mapledurham Golf and Health Club near Reading and Chelsfield Lakes Golf Centre near Orpington. In the third quarter, which ended on 30th September, gross profit was up 47% to £5.9million (1998: £4.0 million) while the number of rounds of golf played on Group courses increased by 23% to 243,000 (1998: 197,000) representing a like-for-like increase of 13%).

Commenting on the results Robert Bourne, Chairman of Clubhaus, said,” We expect further health and fitness progress with the opening of four new clubs in the first half of 2000 and, with the acquisition of the three new clubs in October, total golf membership now stands at 18,500 and health and fitness membership at 7,500.”

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