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9 hole Golf course for sale

Comments

  • #2
    Supateer
    Registered Users, Registered Users 2 Posts: 23 ✭Supateer


    Price £1.3 mil with profits of £29K?
    An early grave beckons!


  • #3
    ozymandias10
    Registered Users, Registered Users 2 Posts: 537 ✭✭✭ozymandias10


    Supateer wrote: »
    Price £1.3 mil with profits of £29K?
    An early grave beckons!

    That is gross profit..odds are the net profit is tiny or even a loss.


  • #4
    Patrick_K
    Registered Users, Registered Users 2 Posts: 339 ✭✭Patrick_K


    ... and for that reason ... I'm out !


  • #5
    GreeBo
    Registered Users, Registered Users 2 Posts: 27,370 ✭✭✭✭GreeBo


    ozymandias10 wrote: »
    That is gross profit..odds are the net profit is tiny or even a loss.

    I assume there is "only" tax to come off that, based on the turnover figure.
    Seems to me that their overheads are too high. Forget about the restaurant, have a small bar and save yourself a bunch of cash.


  • #6
    ozymandias10
    Registered Users, Registered Users 2 Posts: 537 ✭✭✭ozymandias10


    GreeBo wrote: »
    I assume there is "only" tax to come off that, based on the turnover figure.
    Seems to me that their overheads are too high. Forget about the restaurant, have a small bar and save yourself a bunch of cash.

    depends on the way they do the accounts..club accounts maybe..but proper financial records then there is alot more like salaries to come off gross profit...then you get net profit before tax......if its a proprietary club then drawings would need to be looked at loans etc....no matter what it is not a good deal based on the figures quoted...that could change if their asset register identified some asset that could be realised in the future


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