Pre-tax losses up 28% to €7.7m at Doonbeg

THE US owners of the exclusive Doonbeg golf resort said yesterday they remain fully committed to the project in spite of pre-tax losses at the resort increasing by 28% to €7.7 million last year.

Documents filed with the Companies’ Office show Doonbeg Golf Club Ltd incurred the loss after revenues plunged 58% from €19m to €7.8m. The company made a pre-tax loss of €6m in 2008.

Parent company Kiawah Development Partners has to date invested €69.7m in the resort that includes a Greg Norman-designed links.