BBC News - Property firm reports £22m loss
A company controlled by one of Northern Ireland's wealthiest property developers has reported an annual loss of £22m.
The details are contained in the 2010 accounts of Killultagh Estates whose sole director is Frank Boyd.
Killultagh owns the Connswater shopping centre site in east Belfast.
The firm had an effective trading loss of around £400,000 but total losses were pushed higher by impairment charges and inter-company write-offs.
An unrealised loss on the revaluation of properties gives the firm a total recognised loss of almost £51m for the year.
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