Profit & Loss

Profit & Loss: debt catches up with losses at sinking Dermot Desmond-backed firm

Probability Dynamics has reported losses of €16.6 million, with €16.5 million owed to creditors

Dermot Desmond is the 99.96 per cent owner of Probability Dynamics

Total losses at Probability Dynamics, the financial analysis firm heavily backed by Dermot Desmond, rose from €15.3 million to €16.6 million in the year ending September 2022, new accounts show.

The company had a loss of €1.3 million that year, compared to a loss of €1.4 million the year before.

The directors note in the accounts that they “have prepared the financial statements on a going concern basis, the validity of which depends on the ...