Latest News Headlines
On-Air Now
Listen Live
Facebook

Sefton records ten million pound profit

Wed, 25 Jun 2014


The Sefton Group has defended a taxpayer funded bailout saying it's enabled it to turnaround its financial position.

The group has recorded a £10.3 million profit for the last financial year following a restructure in April 2013.

Government handed out two cash loans, which were later deemed to be unlawful, as well as entering a land swap deal for the Middlemarch site in Douglas.

At the time it said it had to act to protect jobs and support the wider economy.

However outgoing chairman Sir Miles Walker says he feels there was a difference of opinion:

 


Media

  • Miles Walker

 

Subscribe to get Energy FM News direct to your mobile device

You can get Energy FM News delivered direct to your mobile device using one of the following methods.

  • In the Apple News App on iOS search for Energy FM IOM and then just add it to your favourites
  • In the Google News & Weather App just search for Energy FM and then add us as a customised section
  • If you use an RSS Reader then just add our feed to your app, click here for our news RSS feed