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27/05/2011
Quinn Reports €852m Loss
The privately owned Quinn-group has reported a major profit loss in 2009.
The €852m loss is connected to Quinn Insurance Limited (QIL), which is currently under administration.
In 2009, QIL incurred operating losses of €644m.
The same year, turnover at Quinn (including QIL) totalled €1.6bn, a fall of €2.2bn from 2008.
Chief Executive of QGL, Paul O’Brien, said the numbers were "hugely disappointing".
Net assets for continuing operations were €149m in 2009, compared to €392m the previous year.
Mr O' Brien said: "Following the appointment of administrators to the QIL business in March 2010, the insurance business is no longer part of our continuing operations.
"I would like to wish the new owners of QIL every success in their efforts to restore the business to full strength and thereby protect the jobs in that business.
"The future of our group now lies in our manufacturing businesses, which are involved in container glass, construction products, plastics & packaging and radiators across a number of jurisdictions."
(BMcN)
The €852m loss is connected to Quinn Insurance Limited (QIL), which is currently under administration.
In 2009, QIL incurred operating losses of €644m.
The same year, turnover at Quinn (including QIL) totalled €1.6bn, a fall of €2.2bn from 2008.
Chief Executive of QGL, Paul O’Brien, said the numbers were "hugely disappointing".
Net assets for continuing operations were €149m in 2009, compared to €392m the previous year.
Mr O' Brien said: "Following the appointment of administrators to the QIL business in March 2010, the insurance business is no longer part of our continuing operations.
"I would like to wish the new owners of QIL every success in their efforts to restore the business to full strength and thereby protect the jobs in that business.
"The future of our group now lies in our manufacturing businesses, which are involved in container glass, construction products, plastics & packaging and radiators across a number of jurisdictions."
(BMcN)
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Ms Quinn Ordered To Pay Anglo €3M
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02 October 2012
Seán Quinn Jnr Appeal Launched
Ireland’s Supreme Court has begun hearing an appeal launched by Seán Quinn Jnr against his three month jail term. His lawyers have told the Supreme Court his indefinite imprisonment for contempt of court and failing to reverse an asset-stripping conspiracy is "incorrect and legally wrong".
Seán Quinn Jnr Appeal Launched
Ireland’s Supreme Court has begun hearing an appeal launched by Seán Quinn Jnr against his three month jail term. His lawyers have told the Supreme Court his indefinite imprisonment for contempt of court and failing to reverse an asset-stripping conspiracy is "incorrect and legally wrong".
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Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
