Gowan Group losses hit €24.2m

Losses at one of the largest family-owned businesses in the country, the Gowan Group continued to mount in 2010, new figures show.

Accounts recently filed by parent company Convest Ltd to the Companies Registration Office show that the group recorded a post-tax loss of €24.2m in 2010 after revenues decreased by 20% from €149.2m to €119.2m.

The group recorded a post-tax loss of €20.1m in 2009, and a pre-tax loss of €50.9m in 2008.