One-51 records net loss of €104m

ONE-51 incurred a net loss of €104.7 million in 2010, driven by a writedown in the value of its 24.1% stake in renewable energy group NTR.

The loss — detailed in the company’s latest set of accounts, published yesterday — follows a net loss of €10.9m for 2009.

Excluding the NTR writedown, One-51’s accounts actually show a 25.6% increase in under-lying pre-tax profits, with the figure jumping from €19.5m to €24.5m.