€2.8m loss for Reynolds steel firm

A STEEL company owned by businessman Leslie Reynolds recorded substantial pre-tax losses of almost €2.8 million in the year to the end of April 2009.

This compares with a profit of €715,995 in the previous year, according to accounts just filed for Leslie Reynolds & Co.

According to the accounts the directors decided to hold an extraordinary general meeting given that the net assets of the company are less than half the issued share capital. It said it would review its financial situation at the meeting.