American Golf reports record results, with plans to open 30 more sites
International Leisure Group (ILG), the holding company for American Golf has reported sales of £166m for the 12 months to January 30, 2022, up from the £115.4m it achieved in the prior year.
ILG has also revealed plans for a £6m investment programme during the next 12 months which will create 50 new jobs in the UK
The latest turnover figure is also ahead of the £141.6m the group posted in the year before the Covid-19 pandemic hit.
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 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.
American Golf now has 95 bricks and mortar stores across the UK and Ireland.
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.
ILG have 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.
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.”