Friday 23 August 2019

The Square spends €360,000 on Christmas decorations over two years

The Square shopping centre in Tallaght
The Square shopping centre in Tallaght

Gordon Deegan

The management firm of one of Ireland's largest shopping centres at The Square in Tallaght has spent over €360,000 on Christmas decorations over two years.

New accounts for The Square Management Ltd, also show that essential fire safety work costing €1.57m contributed to a pre-tax loss of €1.88m at the group behind The Square at Tallaght last year.

The new accounts show that the firm recorded the loss as revenues increased by 3.3pc, to €7.08m from €6.85m.

US private equity giant Oaktree completed its acquisition of The Square shopping centre for €250m last year.

The firm recorded the operating losses last year in spite of slashing its spending on Christmas decorations.

The new accounts give a detailed insight into the firm's costings for the year to the end of September 2018, and they show that the business spent €140,476 on Christmas decorations.

This represents a 37.5pc cut on the €224,182 on Christmas decorations in fiscal 2017.

The firm also spent €1.38m on security in 2018.

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