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Dromoland profits cut

LUXURY hotel group Dromoland Castle said profits receded by 14pc within the year to stand at €1.2m.

And following a non-cash depreciation cost and bank loan interest charges, the Clare five-star hotel recorded a pre-tax loss of €53,569.

General manager of Dromoland Mark Nolan that the group "would be hopeful of returning to pre-tax profit in 2011."