Five-star K Club golf resort suffers loss of €3.75m

Pre-tax losses at the group that operates the five-star K Club golf resort, in Co Kildare, totalled €3.725m in 2013, new figures show.

According to accounts filed by Bishopscourt Investments Ltd and subsidiaries, the group recorded the loss in spite of revenues increasing from €11.6m to €11.9m in the 12 months to the end of December 2013. The directors’ report states that subsequent to December 2013 “the group has incurred further losses on ordinary activities after interest”.

The loss in 2013 followed a €7m pre-tax profit in 2012 that arose from an exceptional gain of €30m and a fixed asset impairment of €16.2m. The resort is currently undertaking a €20m expansion being built by Bernard McNamara that includes an additional 70 bedrooms, the conversion of a former spa into a 25,000 sq ft conference centre and a second bar.