Ballymore pre-tax losses top £372m

Pre-tax losses at a UK arm of Sean Mulryan’s Ballymore group last year topped £372m (€457m).

Accounts filed with Companies House in the UK confirm one of the largest write-downs in value by an Irish-owned property business in one year as a result of the property crash.

Figures filed by Ballymore Properties Holdings Ltd and subsidiaries show that the combined write-down in stock and fixed assets totalled £293.8m (€361.3m) in the 12 months to the end of March 31 (2012) was the chief factor behind the loss.