October 8, 2019 / 8:44 AM / 6 days ago

Trump's Scottish Golf courses post further losses

FILE PHOTO: The light house is seen on the golf course at Trump Turnberry Scotland, Britain November 9, 2016. REUTERS/Russell Cheyne/File Photo

LONDON (Reuters) - Scottish Golf courses owned by President Donald Trump’s family business posted further losses last year, according to accounts filed in Britain in recent days.

Turnberry, one of the most famed courses in Scotland, considered the home of golf, posted a 10.8 million pound ($13.24 million) loss in 2018, according to accounts for Golf Recreation Scotland Ltd which owns the resort. That compared to a loss of 3.4 million pounds in 2017.

The drop was largely the result of foreign exchange losses. Revenue at Turnberry increased to 18.5 million pounds from 15.3 million.

“Trump Turnberry achieved tremendous success in 2018 as the property recorded its highest annual revenue (turnover) in the resort’s storied 113-year history,” the accounts, signed by Trump’s son Eric, said.

The Trump Organization’s smaller resort north of Aberdeen, known as Trump International Scotland, posted a 1.1 million pound loss in 2018, down from a 1.3 million loss in 2017, accounts lodged last week show.

Reporting by Tom Bergin; editing by Michael Holden

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below