Dublin Docklands Authority slashes deficit to €7.4m in 2009

THE Dublin Docklands Development Authority (DDDA) has made considerable progress in its bid to clean up its reputation.

Repeatedly linked in recent years to ill-fated boom-time property deals, including the calamitous investment in the Irish Glass Bottle Site, the authority’s annual report and accounts for 2009 show that its new hair-shirt mindset is already paying dividends.

Significant progress has been made in tackling the Authority’s operating deficit. On an operating basis before impairments, the deficit of the authority for 2009 was €7.4m, a vast improvement on €27m in 2008. Some 58% of employees have been shed, from 64 staff in early 2009 to 27 now.