Trump’s Scottish Golf Course Loses More Money and Warns About Brexit
(Bloomberg) -- U.S. President Donald Trump’s golf business in northeast Scotland extended losses and warned about the impact of the coronavirus pandemic and Britain’s departure from the European Union.
Trump International Golf Club Scotland Ltd., which operates a course in Aberdeenshire, reported a net loss of 1.1 million pounds ($1.5 million) for 2019 after losing 1.07 million pounds the previous year, according to a filing with Britain’s Companies House registry. Revenue rose 18% to 3.28 million pounds from 2.77 million pounds in 2018.
The investment in northeast Scotland has generated controversy over the years as Trump clashed with environmentalists, residents and the Scottish government. The latest challenges are the duration and spread of the Covid-19 pandemic and its impact on consumer confidence and spending, “all of which are highly uncertain in the current environment,” the filing said. Scotland, like much of the U.K., is in lockdown and is reporting record daily cases.
That will be compounded by the “uncertainty of Brexit anticipated in 2021,” according to the report, which was filed before the U.K. struck a trade deal with the EU on Christmas Eve. Trump has praised the U.K.’s departure from the bloc.
The company said it was progressing with a new development after getting approval in September 2019 for a 550-unit residential complex with vacation cottages and leisure facilities.
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