KING CITY, Ontario, Aug. 01, 2025 (GLOBE NEWSWIRE) —
Consolidated Financial Highlights (unaudited)
| (in thousands of dollars except per share amounts) | Three months ended | Six months ended | ||
| June 30, 2025 |
June 30, 2024 |
June 30, 2025 |
June 30, 2024 |
|
| Net earnings | 21,479 | 3,159 | 22,563 | 2,458 |
| Basic and diluted earnings per share | 0.88 | 0.13 | 0.93 | 0.10 |
Operating Data
| Three months ended | Six months ended | |||
| June 30, 2025 |
June 30, 2024 |
June 30, 2025 |
June 30, 2024 |
|
| Canadian Full Privilege Golf Members | 14,999 | 15,063 | ||
| Championship rounds – Canada | 405,000 | 399,000 | 405,000 | 399,000 |
| 18-hole equivalent championship golf courses – Canada | 37.0 | 35.5 | ||
| 18-hole equivalent managed championship golf courses – Canada | 3.5 | 3.5 | ||
| Championship rounds – U.S. | 46,000 | 46,000 | 130,000 | 136,000 |
| 18-hole equivalent championship golf courses – U.S. | 6.5 | 6.5 | ||
The following is an analysis of net earnings:
| For the three months ended | |||||||
| (thousands of Canadian dollars) | June 30, 2025 | June 30, 2024 | |||||
| Operating revenue | $ | 61,560 | $ | 62,183 | |||
| Direct operating expenses(1) | 47,326 | 53,049 | |||||
| Net operating income(1) | 14,234 | 9,134 | |||||
| Amortization of membership fees | 1,200 | 1,126 | |||||
| Depreciation and amortization | (3,559 | ) | (3,681 | ) | |||
| Interest, net and investment income | 2,321 | 2,813 | |||||
| Other items | 12,605 | (3,902 | ) | ||||
| Income taxes | (5,322 | ) | (2,331 | ) | |||
| Net earnings | $ | 21,479 | $ | 3,159 | |||
| For the six months ended | |||||||
| (thousands of Canadian dollars) | June 30, 2025 | June 30, 2024 | |||||
| Operating revenue | $ | 102,324 | $ | 127,529 | |||
| Direct operating expenses(1) | 79,957 | ||||||