‘Substantial earnings’ for woollen mills group

The Blarney Woollen Mills Group is “trading successfully” and recorded “substantial” earnings last year.

That is according to group director Robert Reardon who was commenting on returns by loss-making subsidiaries, Bunratty Shopping Village Ltd and Meadows and Byrne Malahide Road Ltd.

Mr Reardon attributed the losses at the firms to asset writedowns. Figures for Bunratty Shopping Village show it recorded a €2.8m loss in the 12 months to the end of Jan 31 after a €3m property writedown.