Dublin-based builder, the Noonan Group last year recorded an exceptional gain of €11 million after striking a debt deal with its bankers. New accounts show that Noonan Group Holdings Ltd last year recorded pretax profits of €12.7 million, with the return mainly due to an exceptional €11 million gain from the bank debt deal. At the end of September 2018, the group owed €17 million to credit institutions. The group recorded an operating profit of €2 million last year before the exceptional gain of €11 million. The accounts show that group last year spent €6 million on the repayment of a short-term loan.

Source: The Irish Times January 17, 2020 20:03 UTC