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Article: Little things ...
- Article from:
- The Irish Times
- Article date:
- June 5, 2009
CopyrightCopyright 2009 The Irish Times. Provided by ProQuest LLC. (Hide copyright information)
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ON TUESDAY, we finally got some straight shooting on the Irish
property market.
However it wasn't from a bank or an estate agent or one of the
multitude of developers who are working at the coal face.
Instead, listed agri-nutrition group Origin Enterprises, a spin-
off from Aryzta (formerly IAWS), gave its verdict on the property
market here in a trading update and it didn't pull its punches.
Origin, whose brands include Shamrock, Roma and Odlums, announced
a [euro]105 million writedown in the value of its property assets,
which are sites used by the business. This was net of tax. The gross
figure was [euro]135 million.
Bloxham analyst Joe Gill said this was to a "70 per cent
adjustment from ...