Gannon records losses of €13.6m

GANNON Homes, the property development firm owned by K Club co-owner Gerry Gannon recorded losses of €13.6 million in 2007.

This compares with a profit of €107,162 in 2006 as the company experienced what it called a “difficult trading period” in 2007.

According to accounts just filed it said the sales process slowed and 2007 was a particularly challenging year for the Irish residential market in general.