Mulryan firm’s losses hit €58.8m

A HOUSE-BUILDING firm controlled by developer Seán Mulryan recorded combined losses of €58.8 million in 2009 and 2010, company accounts confirm.

Ballymore Residential Ltd is one of a number of the Ballymore companies that have had its loans transferred to NAMA.

However, accounts for 2010 and 2009 just filed to the Companies Office show that despite of the losses, the company paid a combined dividend of €140,748 to its shareholder, the Isle of Man-based Ballymore Ireland Group Ltd.