[The Korea Economic Daily] “Thank You, Screen Golf!”… GOLFZON Posts Higher Q3 Earnings

The Korea Economic Daily reported that GOLFZON posted a third-quarter operating profit of 7.7 billion won, up 14% year on year, while revenue rose 27.8% to 65.6 billion won. On a cumulative third-quarter basis, revenue and operating profit increased 30% and 35.7%, respectively. The paper noted that the number of rounds played grew 8.1% year on year thanks to the expansion of franchise GOLFZON Park locations and new content such as the upgrade to the online competition service BattleZone, which in turn drove the earnings improvement. It added that revenue from overseas subsidiaries in markets including the United States and Vietnam more than doubled in a single year, further contributing to the improved results.

The Korea Economic Daily reported that GOLFZON’s indoor golf practice ranges are rapidly gaining users on the strength of the ‘G-Balance’ swing analysis system, skilled lesson coaches, and a comfortable indoor environment.

The Korea Economic Daily reported that GOLFZON plans to sustain its earnings growth by advancing its content and services and expanding its overseas business.