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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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16 December 2011
Ms Quinn Ordered To Pay Anglo €3M
The wife of Seán Quinn has been told to repay the former Anglo Irish Bank over €3 million over a loan she signed for with her husband five years ago. Patricia Quinn said she was a homemaker for 36 years and had no knowledge of business matters.
Ms Quinn Ordered To Pay Anglo €3M
The wife of Seán Quinn has been told to repay the former Anglo Irish Bank over €3 million over a loan she signed for with her husband five years ago. Patricia Quinn said she was a homemaker for 36 years and had no knowledge of business matters.
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