Trump's Irish golf resort cuts losses to €330,000
Rising revenues last year at Donald Trump's Doonbeg golf resort in west Clare saw its operating losses almost halved to €330,030.
Accounts filed with the Companies Office by TIGL Ireland Enterprises, which runs the resort, show operating losses fell by 46pc from €610,117 as revenues rose by 15pc from €9.2m to €10.66m.
The resort's directors said they are confident it will return to operating profit this year. The company recorded a pre-tax loss of €1.74m in 2017, down 12pc from €2m in 2016.
Mr Trump's sons, Eric and Donald Jnr, are on the board of TIGL.
The directors said the firm had a capital spend of €1.4m last year to improve the course and property after a capital outlay of €3.1m in 2016.
The firm got a further €2m cash injection from the Trump Organisation in 2017 on top of a €4.5m cash injection in 2016.
The directors said they are confident "that in the forthcoming year, the continued redevelopment will contribute posit- ively to an increase in turnover and the return of operating profits in 2018".
There are plans for a €40m development of 53 cottages along with new conference and leisure facilities.
The directors said the plans "if approved will have a positive impact on top line revenues, enhance the customer experience and have a positive effect on trading results".
Workers at the business last year increased from 200 to 213, and staff costs rose by 14pc from €5.26m to €6m.
The firm's tangible assets had a book value of €20.8m at the end of last year.