The Dublin construction group that owns a 34.9% share in Liam Griffin’s hotel group wrote down its investment by 93% last year, “in light of prevailing market conditions”.

The Dublin construction group that owns a 34.9% share in Liam Griffin’s hotel group has written down its investment by 65% “in light of prevailing market conditions”.

PRE-TAX losses at Dublin-based construction group, the Noonan Group, last year totalled €16.3 million following an impairment charge of €10.7m.