A construction and hotel group plunged further into the red last year after incurring write-downs totalling €10.9m.

Kildare construction and hotel group Faxhill Homes plunged further into the red last year after incurring writedowns totalling €34.7m.

THE Co Kildare-based property developer Faxhill Homes saw its losses widen last year from just over €1.7 million to nearly €3m.

FAXHILL HOMES managed to significantly reduce its losses last year but it said the trading environment still remains very challenging.