Monday 18 November 2019

Political capital: Lough Erne resort curbs losses

Meeting of minds: Former US, UK and Irish leaders Barack Obama, David Cameron and Enda Kenny at the resort in 2013
Meeting of minds: Former US, UK and Irish leaders Barack Obama, David Cameron and Enda Kenny at the resort in 2013

The five-star Lough Erne resort where the G8 summit was staged in 2013 recorded pre-tax losses of £685,709 (€795,840) last year.

New accounts show that Lough Shore Road Ltd, which operates the luxury resort, reduced its losses by more than half, as revenues increased by 7pc to £8.37m from £7.8m. On last year's performance, the report by director Kenneth King states that the results for the period are in line with expectations, and that the trading performance is expected to improve in future periods.

The Co Fermanagh resort recorded an operating loss of £104,987, and interest payments of £580,722 resulted in the pre-tax loss of £685,709.

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