Kenmare based company report double the losses of 2004

Kenmare based travel firm, CNG has posted losses for the first 6 months of the year, which are more than double those of the same period last year. A pre tax loss of over 22 million US dollars is being reported for the six months to the end of June. CNG say that it has been a difficult and disappointing period for the company.Earlier this week FEXCO announced the purchase of the CNG’s Leisure division in a deal worth over 3.5 million US dollars. 48 staff will transfer from CNG to FEXCO as part of the deal. CNG continues to employ a further 200 staff across Ireland, Europe and the US.