TWC Enterprises Ltd T.TWC

NGCOA numbers updated to end of Sept.

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Results for Ontario match the Clublink number, plus 14% for the year to date.

Nationally, the YTD Revenue results remain more than 20% above the prior year, with double-digit growth seen in all regions of the country. Both Atlantic Canada and British Columbia are showing strong YTD growth of more than 30% followed by the Prairies and Quebec at more than 20%. This is mainly due to early season increases in Rounds Played and the re-opening of Atlantic accommodations.   YTD transaction numbers remain 12.5% ahead of 2020 levels.

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End of Oct Results. $Revenues %C from 2020 OCTOBER +10.1%YTD +20.2%d  In October, National Revenue was 10% higher than 2020 despite a modest 2% decrease in rounds played for the month likely indicative of improvements in food & beverage sales due to lessening of COVID protocols in several jurisdictions.  The Prairies recorded the highest increase in dollar volume from October 2020

[carbide]

In theory the business has a lot of operating leverage.  (Last year was an exception, when operating leverage was negative, net of CERB, and the company had record cash flow on trough revenues.)  Now I wonder to what extent wages and other operating costs will increase to offset higher prices for golf, equipment, and food sales.  The portion of price increases which reflects

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These numbers are generated from credit and debit card receipts. They come directly from the processing companies.  In terms of transactions they report the number. I believe number of transactions were up around 11 percent.  So, price increases are in the mix.

[carbide]

I guess my point is that there has been a massive currency devaluation, 25% in the last couple years, with all the deficit spending.  So if you're raising prices 10% you may just be treading water, relative to costs.