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.

Doonbeg in the rough with loss of €20m

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.

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