Pre-tax loss of more than €20m for SWS holding firm

The holding company for Cork-based outsourcing company SouthWestern and foresters SWS Forestry, made a pre-tax loss of more than €20 million last year after taking a heavy writedown on the company's goodwill.

8th December, 2013

The holding company for Cork-based outsourcing company SouthWestern and foresters SWS Forestry, made a pre-tax loss of more than €20 million last year after taking a heavy writedown on the company's goodwill.

The directors of Oak Acquisitions, which employs more than 500 people, said the decision to take the goodwill impairment reflected its cautious view of the market ''and the value that would have been placed upon its subsidiaries by any prospective acquirer at the time''.

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