Profits are surging at this golf club operator

Tania Longmire
By Tania Longmire March 20, 2018 13:54

A company that operates two golf clubs in Surrey has seen a dramatic increase in profits in the last financial year.

Alexander Fraser Holdings, which runs Foxhills and Farleigh golf clubs, saw its overall profit climb from a loss of more than a quarter of a million pounds in 2016 to a profit of more than £2 million in 2017.

The company says its commitment to investing in its facilities is the reason for its strong performance.

Farleigh hosted the 2015 PGA in Surrey Masters and will host the 2018 PGA Assistants’ Championship, while Foxhills features two championship courses, a hotel with 70 bedrooms, three restaurants, 11 tennis courts, four squash courts, a spa and conference facilities.

Foxhills Club & Resort also last year ran a major golf fundraiser for those affected by the Grenfell Tower disaster.

Newly filed accounts revealed Alexander Fraser Holdings turned over £14.6 million in the year to March 31, 2017, up from £14.2 million a year earlier.

Pre-tax profits climbed to £2.2 million from £175,986 12 months earlier, with an overall profit for the financial year of £1.7 million compared to a loss of £256,465 in 2016.

A statement filed with the accounts said the company continues to invest annually in its facilities “to keep the product in line with members and guests’ expectations”. In 2017 it invested in new gym equipment, improved its golf course and installed new clay tennis courts.

Foxhills

For the same period Windsor Holdings, which trades as Foxhills, narrowed pre-tax losses to £285,720 from £417,392.

Foxhills was acquired by Pam and Ian Hayton in 1983. Their son Marc is the current managing director and took the reins in 2010.

According to Insider, Foxhills is about to submit a masterplan to Runnymede council ‘which would secure the future of the estate and the 314 staff for a generation to come’.

 

Tania Longmire
By Tania Longmire March 20, 2018 13:54
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