UK arm of Sean Mulryan’s Ballymore Developments builds profit
New accounts lodged by Ballymore Properties Holdings Ltd and subsidiaries with Companies House in the UK show that the group recorded the profit despite revenues having fallen from £222.7m to £99.6m in the 12 months to the end of March.
The group’s profits were boosted by a number of non-cash items, including a £38m increase in the value of stock; a £15m increase in the value of fixed assets and a non-cash £50m profit on the restructuring of joint arrangements.
