Birchford sees losses jump to €18.5m

HIGH-profile property developer Terry Devey saw pre-tax losses at his holding company jump from €3.3 million to €18.5m in the year to the end of March 2010.

Operating losses at Birchford Investments Limited increased from €3.2m to €9.1m.

This is a big turnaround for the company, which in 2007 had an operating profit of €7.5m in the 12 months to the end of 2007.