SIMRO LTD, the retail and wholesale fish business owned by the Wright family in Howth, Co Dublin, has reported a pretax loss of €1.35 million after writing off a series of intercompany debts.

The business had a turnover of €5.55 million in the year to the end of January 2011, according to accounts just filed.

This was a drop of 9 per cent on the performance in the previous year. The directors said they were satisfied the business would generate profits into the future.

In the previous year the company made a pretax profit of €384,613. Intercompany debts of €1.62 million were written off during the year. No further information as to the debts was given in the accounts. Shareholders’ funds at year-end were €2.9 million.

Directors’ emoluments during the year were €314,500, up from €196,998 the previous year. The directors were Bernadette and Mark Wright, and the late Michael John Wright, all of whom had shares in the business, Aisling Wright, Ian Swanton, Stephen Foster and Elizabeth O’Donoghue. The company had approximately €2.7 million in loans and overdrafts at the end of the year.