LATEST ACCOUNTSfor the PR company run by discredited former government press secretary and Fianna Fáil adviser Frank Dunlop show that it went further into the red last year.
Accumulated losses for Frank Dunlop Associates stood at €2.82 million at the end of October 2011. This was €100,000 higher than the previous year.
“The company is dependent on continued director’s loans in order to meet liabilities as they arise,” the accounts state. “These facilities have and continue to be made available.”
Dunlop served time in prison after corrupt payments he had made to politicians relating to planning matters emerged at the Mahon tribunal.
DES SULLIVAN,one of the high- profile investment managers who left Bank of Ireland Asset Management to join Perpetual Investments in 2004, has teamed up with Appian Asset Management, which is run by Patrick Lawless.
Perpetual pulled the plug on its Dublin-based subsidiary PI Investment Management Ltd almost a year ago, transferring the funds to Wellington Management Company in Boston.
Sullivan was chief investment officer at Perpetual’s global equities business and previously deputy chief investment officer at BIAM.
THE FROTHhas certainly been blown off the performance of coffee shops in Ireland during the recession.
Latest accounts for Irish chain Cafe Sol show that it slipped into the red last year.
The company made an operating loss of €206,187 in the year to the end of March 2012 compared with a profit of €38,158 in the previous 12 months.
The company’s gross profit fell by 7.7 per cent during the year to €4.5 million.
The losses had the effect of reducing its accumulated profits to €1.8 million while the company closed the year with €2.2 million in shareholders funds.
Set up in 1998, Café Sol operates a chain of coffee shops as well as a wholesale business.
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