Less than 3% of golf clubs made a loss in 2016

Rosemary Ayim
By Rosemary Ayim February 24, 2017 12:53

A new survey of golf clubs has found a huge turnaround in their financial fortunes between 2013 and 2016.

A Hillier Hopkins survey of private members’ clubs in 2013 found that 58 percent reported a loss or no profit, a figure that itself had dropped from 75 percent in 2011.

Now, a study by UK business analyst Plimsoll, which analysed the financial health of the largest 933 golf clubs in Britain, has found that just 27 of them – less than three percent – made a loss in 2016.

The research wasn’t entirely positive however, as it also found that 162 golf clubs saw their value fall by a third and 154 clubs are carrying more debt from this time last year.

Overall, because of these clubs, the collective value of British golf clubs fell by two percent in 2016.

More than a third of the clubs surveyed, 365, reported a decline in their funds in the last 12 months.

Plimsoll’s lead author, David Pattison, said: “As a director, taking stock of your company value is a great barometer to measure your success and to analyse the overall state of the market. In all, we have identified 933 golf clubs and we have seen 162 businesses lose a third of their value. It is clear that the market is still a challenging landscape.”

Plimsoll spokesman Chris Glancey added: “As the UK economy continues to gain confidence, it seems the encouraging news isn’t shared among the UK’s largest golf clubs.

“On average, golf clubs have decreased in value by two percent in the last 12 months.

“The 2017 study states as average company value within the industry has decreased by two percent, further data reveals 162 firms have also lost a third of their value in the last 12 months.”

 

Rosemary Ayim
By Rosemary Ayim February 24, 2017 12:53
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