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.

For the full story, pick up a copy of today’s Press and Journal or read our digital edition now