One51 suffers €115m loss after huge writedown

Investment company One51 has taken a huge writedown in its latest set of financial accounts, after booking a €117 million impairment charge in 2012.

Although the company had an operating profit of almost €5 million, it recorded a loss for the year of €115.5 million

In a shareholder update, chief executive Alan Walsh outlined progress made on restructuring the company and said that the One51 planned to raise new funds.

It is understood ...