Development firm cuts losses to €1.4m

MIDLANDS development firm John Flanagan saw pre-tax losses reduce from almost €2 million to €1.4m in the year to the March 31, 2010.

The company, based in Offaly, has been reducing its losses in the last few years, after they hit €4.78m in 2008.

Turnover plunged from €18.3m to almost €10m in the year, according to the accounts of John Flanagan Developments Limited.