Golf resort Druids Glen has most profitable year since 2001
Golf resort Druids Glen last year enjoyed its most profitable year since 2001 to record profits in excess of €1 million, according to chief executive Richard Collins.
Mr Collins said: “We have had two years of sustained growth at Druids Glen in 2011 and 2012. We are very optimistic for the future.
“We have very low debt level; we are financing our own debt and have a great relationship with our banks,” he said
Mr Collins was commenting on new abridged accounts lodged by Obalus Hotel Company Ltd t/a Druids Glen Resort that show that accumulated losses at the company increased from €7.4 million to €7.642 million in 2011.
Mr Collins said sales at the hotel grew by 25 per cent in 2011 and 9 per cent in golf, with administrative costs falling by 17.5 per cent.