International Investment and Underwriting Ltd (IIU), the investment vehicle owned by financier Dermot Desmond, reported a loss of €3.66 million during 2002.
The Irish Times reports that accounts for the company, filed recently show that it had investments listed on quoted stock exchanges worth €10m as of December 31 2002, and had a further €6m in cash.
Investments at the end of 2001 were valued at €11.7m.
The company's profit and loss account stood at a €2.96m loss, having been €691,805 in profit the previous year. Called-up share capital was €2.5m.
