Doonbeg in the rough with loss of €20m

The Doonbeg golf resort recorded its biggest ever annual pre-tax loss of €20.4m before its owners appointed a receiver that resulted in the resort’s recent sale to US billionaire Donald Trump.

New accounts filed to the Companies Office by Doonbeg Golf Club Ltd show the firm recorded the pre-tax loss in 2012, chiefly arising from impairments of fixed assets and provisions against debtors totalling €19m.

The firm’s largest single annual loss coincided with the resort recording a profit of €911,000 on an operational basis before non-cash depreciation costs. The resort’s operating losses after depreciation narrowed sharply from €2.5m to €830,809.