K Club back in the swing
Pre-tax losses at the group that operates the five-star K Club totalled €3.725m in 2013, new figures show.
According to new accounts filed by Bishopscourt Investments and subsidiaries, the group recorded the loss in spite of revenues increasing from €11.6m to €11.9m in the 12 months to the end of December 2013.
The directors' report states that subsequent to December 2013 "the group has incurred further losses on ordinary activities after interest".
The resort is currently undertaking a €20m expansion being built by Bernard McNamara that includes an additional 70 bedrooms. Revenues at the resort rose by 10pc to around €13m. Its chief executive, Michael Davern, said in a recent press interview that the K Club was 'operationally break-even' in 2014.
The extension at the Michael Smurfit-owned resort, outside Straffan, Co Kildare, is due to be complete this August.