US billionaire Donald Trump’s golf resort at Menie, near Balmedie, has reported a widening of losses but also a big jump in turnover for its first full financial year.
The business is still in its start-up phase and expected to start generating big profits once other parts of a grand plan for the site start taking shape.
Mr Trump’s original plan for the resort included a hotel, 500 houses and 950 holiday homes but these are currently on hold as he continues his long-running legal battle against offshore wind turbines proposed for Aberdeen Bay.
It is these extra facilities which would start giving Trump International Golf Club Scotland a decent return on Mr Trump’s multimillion-pound investment.
Accounts for the business released by Companies House yesterday show pre-tax losses of £1.82million for 2013, compared with losses of £1.75million the year before.
But turnover jumped more than 62% in the latest period, to £2.74million.
A spokeswoman for the resort said: “We are establishing a new golf and leisure resort that is uncompromising on quality and service.
“During these early years we will continue to make significant investments for the future growth of the business.
“The figures are entirely in line with our expectations and reflect the sizeable commitments made during the year.”
She added: “2014 has been a buoyant year – player numbers have increased substantially and room occupancy is very encouraging, even at this early stage.”
A report with the accounts said: “Significant investment in the areas of food, beverage and accommodation, in terms of personnel and available services, have consciously been carried out as a means to achieving the company’s objective to reach the pinnacle of customer service and continue to lay claim to the world’s greatest golf course.”