Finance Ireland reports loss

FINANCE Ireland, the holding company of Shared Home Investment Plan, has reported pre-tax losses of just over €800,000 for the first six months of this year.

Finance Ireland was formerly known as Ardent and is headed by former Irish Life & Permanent chief Billy Kane. The company’s main business offers a product which allows home owners to sell a stake in their home in return for a lump sum.

Mr Kane said: “The results are strong with shareholder funds up 19% to €15.7 million and total assets have increased by 40% to just under €68m.