Builders PJ Walls loses €38.1m following writedown

ONE of the country’s largest building groups, PJ Walls, recorded a pre-tax loss of €38.1 million in 2010 following a €44.4m writedown in its assets.

Accounts filed with the Companies Registration Office by PJ Walls Holdings Ltd and subsidiaries show that the group plunged into the red in 2010 in spite of increasing revenues.

Revenues increased by 15% from €146.4m to €169m. The loss in 2010 followed a pre-tax profit of €861,642 in 2009.