Trump’s Doonbeg eyes profit as revenues rise

Trump’s Doonbeg eyes profit as revenues rise

Operating losses at the Doonbeg golf resort in west Clare, owned by US President Donald Trump, almost halved to €330,030 last year, as revenues rose.

And the resort’s directors say in newly filed accounts they are confident they will post an operating profit this year.

New accounts filed by TIGL Ireland Enterprises Ltd show losses fell to €330,030 in 2017, as revenues rose 15% to €10.66m.

The Trump Organisation has invested millions in the course since its purchase at a knockdown price in February 2014.

The company cut its pre-tax loss to €1.74m in 2017 from a loss of €2m in 2016. The president’s sons, Eric and Donald Jr remain on the board of the TIGL firm after Mr Trump and his daughter Ivanka stepped down as directors in January 2017.

The directors say €1.4m was invested in the golf course last year, on top of the €3.1m spent in 2016.

The firm received a €2m cash injection from the Trump Organisation in 2017 and €4.5m in 2016.

The business has plans for a €40m development that includes 53 cottages and a new conference and leisure facility.

Staff numbers employed increased last year to 213 from 200, and staff costs increased by 14% from €5.26m to €6m in the year. Its tangible assets are worth €20.8m.

More on this topic

Congress formally opens impeachment of President Donald TrumpCongress formally opens impeachment of President Donald Trump

Nancy Pelosi unveils prosecutors for Donald Trump’s Senate impeachment trialNancy Pelosi unveils prosecutors for Donald Trump’s Senate impeachment trial

Julian Lee: Trump is wrong - The US does still need Middle East’s oilJulian Lee: Trump is wrong - The US does still need Middle East’s oil

'The movie will never be the same': Canadian broadcaster defends cutting Trump cameo in Home Alone 2'The movie will never be the same': Canadian broadcaster defends cutting Trump cameo in Home Alone 2

More in this Section

Free trade agreement ‘very difficult if UK does not comply with EU standards’Free trade agreement ‘very difficult if UK does not comply with EU standards’

Microsoft pledges to remove entire historical carbon footprint by 2050Microsoft pledges to remove entire historical carbon footprint by 2050

''Politically-sensitive'' costs of rents and health insurance rise''Politically-sensitive'' costs of rents and health insurance rise

C&C shares sink on news of CEO exitC&C shares sink on news of CEO exit


Lifestyle

They have absolutely nothing really to do with Jerusalem or indeed with any type of artichoke, so what exactly are these curious little tubers?Currabinny Cooks: Exploring the versatility of Jerusalem artichokes

Arlene Harris talks to three women who have stayed on good terms with their ex.The ex-factor: Three women on staying friends with their former partner

A child sleep expert outlines simple things to do during the day to help children settle better at night.10 clever daytime hacks to help your child get a good night’s sleep

Isabel Conway unveils the top travel trends for the year ahead.The travel trends for 2020: From the ‘skip-gen’ vacation to vegan breaks

More From The Irish Examiner