Fresh losses at Ballymore UK subsidiary amid ‘challenging’ outlook

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Fresh losses at Ballymore UK subsidiary amid ‘challenging’ outlook
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London-based developer sets aside £17.9m to cover sums owed by related entities that may not be recoverable

Seán Mulryan . A UK subsidiary of his Ballymore Group lost more than £5 million in the year to the end of March last. Photograph: PA/Brian Lawless

Losses narrowed from £34.3 million in Ballymore’s previous financial year amid a more than 60 per cent increase in turnover from slightly more than £8.8 million in 2022 to £14.3 million in the 12 months to March last.Female business founders don’t need more roadblocks to funding Mr Mulryan’s group formally signed up to the scheme in March, 2023. Ballymore had been singled out for criticism by UK secretary of state for levelling up Michael Gove as one of 11 firms that had not put pen to paper by a March 13th deadline.

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