Alvarez & Marsal purchased Hogs Head golf course in Waterville 10 years ago. New consolidated accounts for A&M SWB Holding Ltd underline the scale of the investment since by Alvarez & Marsal, with a book value of €55.99m on the golf firm’s fixed assets.
Alvarez & Marsal employs 12,000 people and is in business for over 40 years. Headquartered in New York, the firm has a global footprint with 94 offices across the Americas, Asia Pacific, Europe, the Middle East, Africa, South East Asia and Australia.
A&M SWB Holding Ltd last year recorded the dip in operating profits despite revenues increasing by 3pc from €14.88m to €15.28m.
The directors state the company operates a private golf club “at the premium end of the international golf market”.
They state the company “is engaged in a continuous investment in its facilities to retain its status”.
Hogs Head golf course operates ‘at the premium end of the international golf market’
Today’s News in 90 Seconds – September 19th
“We expect to continue to maintain a strong focus on delivering an exceptional golf experience to our members and their guests,” they state.
The company’s operating profits of €3.66m follow operating profits of €4.15m in 2023.
After non-cash depreciation costs of €3m, the company recorded pre-tax profits of €660,214, which was down 51pc on the pre-tax profits of €1.36m in 2023.
The company recorded no corporation tax charge in 2024 and 2023. The firm’s cost of sales last year totalled €2.46m while administrative expenses totalled €9.16m.
A&M SWB Holding Limited has the following subsidiaries: A&M Hogs Head Golf Club Ltd, A&M Greens Construction Ltd and A&M Lodge at Hogs Head Ltd.
The directors who served during the year are listed as Christopher Woelfle, Bryan Paul Marsal, John Duggan and Rory O’Sullivan.
The consolidated balance sheet for the business shows that it had shareholder funds of €57.72m at the end of December 2024.
This takes into account accumulated losses of €20.73m offset by called-up share capital of €78.46m.
The group’s cash funds increased from €339,675 to €3.04m.
Numbers employed increased from 107 to 109 last year with staff costs increasing from €5.42m to €5.78m.
