Latest accounts show losses of €68m at PJ Walls

Property development group PJ Walls which has just hived off its profitable construction arm has recorded pre-tax losses of €67.9m in 2013.

New accounts show that the indebted PJ Walls Holdings and subsidiaries recorded the losses after writing down the value of its assets by €67m.

Revenues at the group reduced by 35% from €144.35m to €93.57m in the 12 months under review.