‘Square’ shopping centre in the red with €940k loss
New accounts filed by The Square Management Ltd show that the pre-tax loss – for the 12 months to the end of September last – followed pre-tax profits of €3.7m in 2013. However, that 2013 profit arose from solicitor and property developer, Noel Smyth waiving €4.56m in fees that were owed to him.
Last year, the firm’s revenues declined by 15%, from €7.5m to €6.39m. The firm’s operating losses last year increased more than four fold to €158,628 and interest charges of €781,206 added to the loss to result in the pre-tax losses of €939,834.
