Gold course operator ClubLink swings to higher profit in Q3; revenue also up

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.

The net operating loss for US golf club operations segment for the summer off-season improved to $696,000 from $788,000 in 2012, primarily due to improved efficiencies in operations.

Net operating income for the rail, tourism and port operations increased 6.6 per cent to just under $17 million from $15.9 million in 2012 due to a 1.6 per cent increase in rail passengers and a 7.2 per cent increase in port passengers

The company, with headquarters in the Toronto-area community of King City, owns and operates golf clubs with 52.5, 18-hole equivalent championship and six 18-hole equivalent academy courses at 43 locations.

Its Alaska-based operations, operating under the trade name White Pass & Yukon Route, includes a railway that stretches about 175 kilometres from Skagway through British Columbia to Whitehorse, Yukon. In addition, ClubLink operates three docks primarily for cruise ships.