Galgorm resort reports £2m increase in sales
Galgorm Resort and Spa has reported a £2m increase in sales in its latest company accounts.
Turnover at the Ballymena resort rose to £35.9m in the year to October 2023.
Pre-tax profits at the venue, part of the Galgorm Collection, were steady at £6.6m.
In a strategic report filed under company name Galgorm Manor Hotel, the directors said they considered the results for the year to be in line with expectations.
Turnover of £35.9m was up from £33.6m while net assets of the company were £21.4m, which was up from £18.9m.
It added: “The board of directors are satisfied with the company’s performance for the year and the position at the balance sheet
“The directors continue to monitor revenue and costs to ensure the company remains profitable. The company continues to maintain a strong net asset position.”
Employee numbers over the year rose from 597 to 645, with the company pay bill rising from £13.8m to £14.8m.
The company said it would continue to strengthen the global positioning of the brand, adding: “We will continually seek out new markets, working collaboratively with industry bodies, not just for the benefit of the company, but for the industry within Northern Ireland.”
The Galgorm is the Galgorm Collection’s flagship property and is receiving a £30m investment to expand its resort and spa facilities by 2027, with more than £60m already invested over the last decade.
Galgorm Collection opened the £7m Rabbit Hotel & Retreat in Templepatrick, Co Antrim in 2019 and in 2021 acquired and revamped The Old Inn in Crawfordsburn, adding a £2.5m outdoor treetop spa.
The group also owns and operates two Belfast city centre restaurants, Fratelli Belfast and Parisien, as well as Castle Kitchen & Bar in Ballymena.
Pre-tax profits at group company Tullymore House Ltd jumped from £3.2m to £7.8m over the year ending September 2022, while turnover increased from £22.7m to £45.1m.
However, for the year to October 31 2023, Tullymore House has filed financial statements rather than full accounts. The financial statements report shareholders’ funds of £10.5m for the year.
