The figures cover the 12 months to 31 December 2008.
The performance was a reversal on 2007 when there was a pre-tax profit of ВЈ32m on turnover of ВЈ130m, representing a remarkable profit margin of close on 25%.
The net worth of the group finished the period at ВЈ77m, a fall of ВЈ26m.
The net cash outflow from operating activities ran to ВЈ9m, following an outflow of ВЈ1m in 2007.
The decrease in cash for the year was ВЈ21m, after a ВЈ22m decrease the previous year.
Things could have been worse with the house building group pointing out: вЂњOur policy of not following the market into the provision of large numbers of apartments in urban areas but concentrating on all-new homes has protected the group from the worst effect of the market disturbance.вЂќADVERTISEMENT
Last yearвЂ™s hit was magnified by the effect of ВЈ23m-worth of land write-downs and exceptional costs.
Part of the latter was the ВЈ1.7m exceptional cost to cover redundancy payments вЂ“ 20% of staff were laid off in August 2008.
Croudace Homes completed the sale of 350 dwellings, a drop of 10% from 390 sold in 2007.
The house builder closed its final salary scheme to new members in 1994 and the winding up process commenced during 2007.
The directors said: вЂњProgress was made during the year and it is hoped that the winding up will be complete in 2009.вЂќ
There was a ВЈ7m charge in 2007 which was linked to the вЂњcurtailment of the defined benefit pension schemeвЂќ
Market pressures have not lessened the groupвЂ™s ability to hand out dividends to its shareholders, however, and after passing over ВЈ1.3m in 2007 the dividend figure doubled to ВЈ2.6m last year.