Housebuilder ‘heading for £65million of losses’ in latest period
North housebuilder Tulloch Homes Group said yesterday it was heading for losses of £65million in the year to June 30, 2012, after a string of one-off costs.
The Inverness company also revealed it had just completed a financial restructuring to significantly reduce its debt and liabilities.
A debt-equity swap and new three-year lending facility were agreed with Lloyds Banking Group.
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