Owner of Trocadero centre falls into the red

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Power Corporation, the Irish developer of the Trocadero shopping centre in London, announced an Ir pounds 103m loss for the year to March. The loss, against an Ir pounds 10.6m profit in 1992, included an Ir pounds 55m write-down on the Trocadero site, which fell into receivership in January, and an Ir pounds 42m provision against other properties. The shares fell 3p to 5p.