Mulryan property group makes €119m loss

PRE-tax losses at the international property operation run by one of the country’s best-known developers, Sean Mulryan, last year jumped 83% to €119.2 million.

Documents just filed with the Companies Office confirm that plunging international property prices resulted in Ballymore

International Developments Ltd and subsidiaries writing down the value of investment and hotel properties by €69m last year, and this followed a write-down of €65m in 2008.