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Old 24th Oct 2011, 16:48
  #3095 (permalink)  
840
 
Join Date: Mar 2005
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My understanding of operationally profitable is that it is taking out the interest (c. 8 million) and depreciation of fixed assets (presumably around 6 million), but doesn't included the capital repayments anyway, so the term doesn't matter.

I haven't seen published accounts, so I don't know if the depreciation includes exceptional charges to take account of the general reduction in Irish property values.
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