The group operated by Limerick timber tycoons the McMahon family returned to profit last year — but only after recording a €7.1m profit from the sale of an investment property.

LOSSES continued to mount at the group operated by Limerick timber tycoons, the McMahon family, last year, as pre-tax losses at the group totalled €6.2 million.

REVENUES almost halved last year at the main holding company of Limerick timber tycoons, the McMahon family, as pre-tax losses at the firm increased by 44% to €6.6 million.