Combined losses at Shipton group companies fall to €40m

Combined losses at two companies that are part of the Shipton Group last year narrowed to €40.3m.

Accounts recently filed by Blackpool Properties Ltd and Douglas Developments Ltd show that losses declined by 67% from €123.3m to €40m in the year to Mar 31, 2011.

The Cork-based group owns a number of shopping centres and other developments in Cork City, including Douglas Village and Blackpool.