MonAer profits fall €5m in 2003

A property development company owned by Aer Rianta and builder Liam Carroll saw its profits plunge by €5 million last year.

MonAer (Cork) Limited recorded pre-tax profits of €1.1m, down from €6.1m the previous year.

However, the 2002 figures were boosted by a gain of €11.4m for the sale of land to Dublin Bus.