One51: Debt reduction a ‘priority’

THE chairman of investment group, One51 has told shareholders that continued debt reduction remains a priority of the board and that recent trading has been positive, given market conditions.

Also One51’s latest annual report shows that in his last full year at the helm, former chief executive Philip Lynch received total remuneration of €1.48 million last year; up from just under €1.39m in 2009.

Denis Buckley wrote to shareholders to tell them that the group’s strategy “will be one of consolidation and rebuilding for the future”.

“The focus of the board remains on improving the operational efficiency of the businesses acquired over the last six years, together with managing the group’s investments to ultimate shareholder advantage. Costs will be very carefully managed, going forward, with continued debt reduction remaining a priority,” he said.