Pre-tax losses at house-building firm narrow to €16.8m

A Seán Mulryan-controlled house-building firm that recorded annual revenues of almost €100 million at the height of the building boom had a turnover of €84,734 last year.

Ballymore Residential Ltd is one of a number of Mr Mulryan’s Ballymore companies that has had its loans transferred to Nama.

However, accounts for the 12 months to the end of March 2011 just filed show that pre-tax losses narrowed at the firm to €16.8m, following a loss of €45.9m in fiscal 2010. The loss last year included a writedown of €12.4m in stocks.