The owner of the American Golf chain has reported record sales figures.
International Leisure Group (ILG), who own the popular chain, has reported sales of £166m for the 12 months to January 30, 2022. The figures were up from the £115.4m it recorded the year before.
The American Golf chain, which has an outlet on Caldway Drive in south Liverpool, has embraced technology to try and make the sport more accessible to women and children. The latest turnover figure is also ahead of the £141.6m the group posted in the year before the Covid-19 pandemic hit, reports Business Live.
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The Warrington -headquartered group, which is backed by private equity firm Endless, added its pre-tax profits also surged from £152,370 to £7.8m for its latest year.
ILG's EBITDA (earnings before interest, taxes, depreciation, and amortization) before exceptional costs for the financial year totalled £12.8m, up from £1.6m in 2021. The group said its figures were the best in it's 52-year history.
It added the figures "represent a remarkable turnaround" for the business, which was losing £3.9m (FY19 EBITDA) when it was acquired by Endless in October 2018.
During its latest financial year, the group generated £108.5m of sales through its retail stores, compared to £44.1m spent online.
The remainder of sales were driven by ILG’s expansion into golf ranges, as well as the company’s International Leisure Brands division, which includes Germany-based golf fashion brand Golfino.
American Golf now has 95 bricks and mortar stores in the UK and Ireland.
ILG has also revealed plans for a £6m investment programme during the next 12 months which will create 50 new jobs in the UK, taking the group’s total employees to over 1,000.
This will involve the procurement of Golf Kingdom located in Chadwell Heath, Essex, five new site acquisitions and the refurbishment of 17 existing stores.
ILG is planning to add 30 new leisure sites to its portfolio by the end of 2027, consisting of stores, golf ranges, food and beverage and adventure golf offerings.
Last year saw ILG invest in "technology-driven" store refurbishments including Greater Manchester’s flagship American Golf store in Trafford.
The company also made its first leisure acquisitions of entire golf courses, including Cheshire’s High Legh Golf Club, Cambridgeshire’s Hemingford Abbots Golf Club and Lancashire’s Rossendale Golf Centre.
Gary Favell, CEO of ILG and American Golf, said: "We’ve taken what was an ordinary golf retailer and reimagined the user experience to create immersive, technologically-advanced environments that everyone can enjoy – men, women and children of all ages, backgrounds and abilities – we’ve made the sport accessible to all.
"Couple this with a lively acquisition strategy, of strong, multi-category golf brands and golf courses, and the result is year-on-year double-digit growth since 2019 and a leading market share."
