Global Edition

For Clubhaus PLC, 1998 was a year of consolidation

7.30am 30th March 1999 - Corporate

Preliminary audited results for Clubhaus in the year ended 31st December 1998 show an increase in turnover of 35% to £24.1 million and an increase in profit before tax and after exceptional items up 68% to £8.6 million.

Just two new facilities were added to the group compared with nine in 1997. These were El Bosque Golf and Country Club, Valencia, Spain and Golfplatz Tutzing in Munich, Germany. Golf developments at Hamburg and Three Rivers were completed as was the refurbishment of health and fitness facilities at Tytherington. Health and fitness developments have begun at Castle Royle and Nizels.

Over 582,000 rounds of golf were played on Clubhaus’ courses compared with 383,000 in 1997. Total club membership now exceeds 17,000.

“Our core business goes from strength to strength,” says Robert Bourne, Chairman. “1998 was a year of consolidation for us with significant investment being made in our existing portfolio, although acquisitions were made in Spain and Germany late in the year. The early results from our health and fitness developments have been sensational and we are extremely encouraged by the pre-selling for Castle Royle’s new complex, which opens in June, and at the refurbished Tytheringtom health and fitness centre. Current trading is in line with our expectations and the outlook is full of opportunities for us to exploit in 1999.”

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