THE company that owns the famed Old Course Hotel at St Andrews cut losses by around one-third in the latest financial year, helped by the increased popularity of the venue.
The latest accounts for The Old Course Limited, owned by America's Kohler Corporation, show the company made a pre-tax loss of £1.4 million in 2011, compared with £2.2m the preceding year.
Turnover increased by 7% annually, to £12.6m, from £11.7m the preceding year.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
