Losses soar to €7.6m at Cork HQ of wireless technology company

Losses at the Cork-based global operations headquarters of the Option Wireless group continued to mount last year.

New accounts show that Option Wireless Ltd recorded a pre-tax loss last year of €7.6m following pre-tax losses of €2.8m in 2010.

The figures show that losses increased almost threefold at the firm after revenues plummeted from €45.1m to €16.3m.