Crieff Hydro sees profits fall below £420k
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Stephen Leckie
The Crieff Hydro Family of Hotels has reported an 86 per cent decrease in pre-tax profits to less than £420,000 despite a rise in turnover.
The hotel group’s latest results show pre-tax profits of £418,657 in the year to February 2023, down from £3.1 million in the previous year, and turnover of £36.4 million, up from £28.6 million.
Stephen Leckie, chairman and chief executive, told The Courier that the results meant planned investment would now be delayed until the group’s financial position improves.
Mr Leckie said: “Plans for investment and growth has to be delayed until one day, we hope, we get in a position where we’re making more money.
“We had plans to invest £20-30m across the company into expansion. We simply cannot do it if we’re not making money.”
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