Securities firm records €1.6m losses

AN Irish unit of Japanese securities firm, Daiwa Securities, projects a return to profitability for this year following the company recording a loss of €1.6 million last year.

Accounts recently returned for Daiwa Securities Trust Europe Ltd to the Companies Office show that the company’s revenues dropped by 18% from €19.5m to €15.9m to the end of March last year.

The Dundalk-based company recorded a pre-tax loss of €1.6m following a €2m pre-tax loss in 2009.