Fitzwilton cuts losses by €37m
The company, which was taken private by Dr O'Reilly in 1998, said pre-tax losses were €8.8 million in 2003, down from €46.4 million in 2002. In that year the bulk of its losses were due to the sale of its stake in the Safeway retail group in Northern Ireland.
According to accounts filed at the Company's Registration Office, operating losses in 2003 were €1.8m, down from €6.7m in 2002, an indication that the core Fitzwilton business is seeing an improvement in trading.
