Rugby star firm’s earnings take a hit

THE investment firm owned by former Irish rugby international Ray McLoughlin has reported a large increase in losses for last year.

Although operating revenue increased from €2.1 million to €2.4m, Dublin-based Monset made a pre-tax loss of €8.6m up from €1.2m in 2007. The accounts said the level of activity is in accordance with expectations.

“The results for the year and the year end financial position were adversely affected by the global downturn in property and equity markets,” accounts filed by the company read.