The management firm of one of Ireland’s largest shopping centres at The Square in Tallaght has spent over €360,000 on Christmas decorations over two years.

New accounts for The Square Management Ltd, also show that essential fire safety work costing €1.57m contributed to a pre-tax loss of €1.88m at the group behind The Square at Tallaght last year.

The new accounts show that the firm recorded the loss as revenues increased by 3.3pc, to €7.08m from €6.85m.

US private equity giant Oaktree completed its acquisition of The Square shopping centre for €250m last year.

The firm recorded the operating losses last year in spite of slashing its spending on Christmas decorations.

The new accounts give a detailed insight into the firm’s costings for the year to the end of September 2018, and they show that the business spent €140,476 on Christmas decorations.

This represents a 37.5pc cut on the €224,182 on Christmas decorations in fiscal 2017.

The firm also spent €1.38m on security in 2018.

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