McNamara-linked property firm reports €300k profit

A PROPERTY company that developer Bernard McNamara resigned from as a director earlier this year recorded a profit of over €300,000 last year.

According to accounts just filed with the Companies Office, Mazarone Ltd recorded the profit of €313,819 in the 12 months to the end of May last year.

This followed the company recording a loss of €40.5 million in 2009 due mainly to a property writedown of €26m.