Losses after tax narrowed from €228,750 to €190,740 over the 12-month period. However, Milltown Inns would have traded in the black were it not for a €2 million property impairment charge recognised in the financial year.
The veteran businessman bought the pub and two houses on a two-acre site near the top of the property market for €22 million in 2005 in what was then the most expensive pub acquisition in the history of the State.
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