Newspaper article The Canadian Press

Gold Course Operator ClubLink Swings to Higher Profit in Q3; Revenue Also Up

Newspaper article The Canadian Press

Gold Course Operator ClubLink Swings to Higher Profit in Q3; Revenue Also Up

Article excerpt

ClubLink swings to higher profit in Q3

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Canada's largest golf course operator has reported a slight increase in both third-quarter revenue and profit.

ClubLink, which operates courses primarily in Ontario, Quebec and Florida, said Friday that its net income improved to $17.1 million, or 65 cents per share in the three months ended Sept. 30.

That was up from $16.5 million, or 63 cents per share, in the same 2012 period as revenue rose to $87.9 million from 86.3 million.

ClubLink , which is also engaged in rail, port and tourism operations based in Skagway, Alaska, said the increase in operating revenue was primarily due to increased passenger traffic in those operations compared with the previous year, plus a more favourable U.S. exchange rate.

Net operating income for the Canadian golf club operations segment decreased 3.4 per cent to $18 million from $18.7 million in the 2012 period due to a decline in operating revenue as a result of fewer Canadian members. …

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