The Courier & Advertiser (Fife Edition)
Increasing sales and ongoing investment at Fife holiday resort
Family firm Pettycur Bay enjoyed record turnover last year as more people take holidays in UK
Sales grew by more than 11% last year at The Bay Hotel and Pettycur Leisure Complex in Kinghorn.
Newly filed accounts show Pettycur Bay Holiday Park Limited increased its turnover from £5.1 million to £5.7m for the year ending February 28.
Pre-tax profits at the family owned firm rose from £900,000 to £1.1m.
In his strategic report, director Alan Wallace said: “The net assets of the company have increased from £11.3m, at February 28 2017 to £12.2m at February 28 2018.
“The directors are confident that the company will continue to trade in a similar manner in the coming year.
“Competitive pressure has increased in the marketplace and margins remain under pressure.
“The directors seek to control overhead costs in order to maintain the profitability of the company.”
Last month the 34-year-old firm reported that it had been enjoying a “post-Brexit staycation boom” with sales increasing by around 7% this summer.
It has invested £100,000 on upgrading the nightclub on the resort and are planning a restaurant renovation.
The hotel celebrated its 10th anniversary this year and around 60 weddings a year are held at the venue.
Mr Wallace added: “We would like to see the hotel cater for even more guests in the next few years, and have a number of plans for the future, especially concerning the wedding market. We have maintained our core customers.
“Through all economic conditions, good and bad, we have always offered good value.”