Construction group further in the red

Kildare construction and hotel group Faxhill Homes plunged further into the red last year after incurring writedowns totalling €34.7m.

Accounts filed by Faxhill Homes Ltd to the Companies Office show the group recorded a loss of €44.4m in the 12 months to the end of October last after recording a loss of €2.8m in 2010.

A note attached to the accounts confirms that “the group continues to incur significant losses”.