IMI losses rise to €6.3m in 2009

THE Irish Management Institute (IMI) which trains the country’s business elite, saw losses increase substantially to close to €6.3 million in 2009.

The IMI’s accounts, seen by the Irish Examiner, show the country’s leader in executive education made a trading loss of €2.6m against €1.4m in 2008. The €6.3m losses in 2009 compares with a deficit of just €1.3m in 2008.

Property write-downs, and a sharp fall in demand for courses as the recession hit home, are the reasons for the poor performance.