A Highland hospitality and estates firm owned by Scotland’s richest man has posted another multi-million-pound loss.
Wildland Limited, which operates Lundies House hotel in Tongue and luxury self-catering properties, is owned by Danish billionaire Anders Holch Povlsen.
Mr Povlsen is Scotland’s largest landowner, with more than 220,000 acres across 13 estates – including in the Cairngorms, Sutherland and Lochaber.
The billionaire made his fortune with fashion businesses Asos and Bestseller.
New accounts for the year ending July 31 2024 show pre-tax losses of £8.1 million and follow a £9.3m deficit in 2023.
However, with a net worth estimated at £9.9 billion on Forbes’ list of billionaires, the latest Wildland loss won’t make much of a dent.
Turnover growth
The company’s turnover grew to £4.1m, rising from £2.9m in the 2023 financial year.
In the newest accounts, signed off by Mr Povlsen, the strategic report states the group has improved its trading margin despite administration and local costs rising by 35%.
Mr Povlsen said: “As we continue to build our management capability to handle the increasing activity and absorbed some costs of reorganisation, the net margin overall, as anticipated, remained negative.
“Margins in hospitality, forestry and farming showed strong growth.
“Whilst the ongoing substantial investment in landscape conservation widened the reported annual financial loss.
“The group remains committed to its development plans and anticipates a positive gross margin, and therefore profitability, over time.”
Wildland said inflation, low economic growth and high energy costs continue to present challenges.
What does Wildland Limited own in the Highlands?
The company owns Killiehuntly Farmhouse in Cairngorms National Park, as well as five self-catering buildings.
In Sutherland, Wildland has five self-catering properties – including Lundies House and Foulain Cottage.
It has continued its development of Hope Lodge in Sutherland as it plans to turn it into a “world-class” shooting lodge and spa.
Mr Povlsen said: “Hope Lodge will come on stream in early 2026 and we continue to absorb the costs of gearing up for the launch.
“The company continues to invest strongly in its natural and built property portfolios.”
Last year, Wildland relaunched Aldourie Castle after four years of refurbishment and development.
Meanwhile, the group’s staff figures rose to 96, up from 86 in the previous year.
Mr Povlsen ranked as the richest person in Scotland in the latest published edition of the Sunday Times Rich List, which estimated his wealth at £6.73bn.
Wildland Limited has been asked to comment.
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