29th August 2008
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ILP tells investors it can release €1bn capital Thursday, 28th August, 2008
SHARES IN Irish Life Permanent (ILP), the country's largest mortgage lender, gained 9 per cent after the company reassured investors that it could draw more than €1 billion in additional capital from its life assurance business to cover any future loan losses.
Losses at Thomas Read reach €3m Thursday, 28th August, 2008
LOSSES at Thomas Read's hotel and property investment business widened to €3m last year despite a €1.4m turnover boost, according to new figures lodged with the Companies' Office. The €3m pretax loss was for the year ended May 2007 and compares with a shortfall of €1.8m for the previous financial year. Turnover for the year came in at €9.6m. In the
Paddy Power cuts operating profit forecast to €75m Thursday, 28th August, 2008
THE SLOWING economy and a run of winning results for punters has prompted bookmaker Paddy Power to cut its operating profit forecast for the year to €75 million from €82 million.
BMW revamp following appraisal of dealerships Thursday, 28th August, 2008
As the biggest benefactor of the new VRT rules, BMW was always going to hit headlines this year, but a review of the company's dealership network ensured further attention for the German car giant.
INM holds interim dividend payment steady Thursday, 28th August, 2008
INDEPENDENT NEWS MEDIA (INM) held its interim dividend steady for the first time in more than a decade as the firm reported a 0.5 per cent drop in pre-exceptional operating profit in the six months to June and said it was "difficult" to reliably forecast advertising sales in the second half of the year.
Growth at 15-year low but Spain rules out mild recession Thursday, 28th August, 2008
WEAKER consumer spending and a crumbling construction sector sent Spanish growth to a 15-year low in the second quarter, but Spain's government said the economy could avoid recession.
Heineken says 2008 a challenging year for beer sector Thursday, 28th August, 2008
LOWER ALCOHOL consumption levels mean 2008 will prove to be “another challenging year” for the beer industry, Heineken Ireland said yesterday as it published half-year results showing a 3 per cent rise in turnover and “static” sales volumes.
INM net profit jumps by 28pc despite challenging market Thursday, 28th August, 2008
Independent News & Media (INM) has reported a 28pc increase in net profit following a "robust" performance across all regions and lower once-off costs. Net profit for the six months ended June 2008 was €48.7m on revenues of €780.4m.
Strong demand for cheese in US helps Glanbia Thursday, 28th August, 2008
CHEDDAR CHEESE sales helped food group Glanbia achieve a profit before tax of €50.5 million in the first half of 2008, up 31 per cent on the same period last year.
Grafton Group's first-half profits expected to drop by 30pc or more Thursday, 28th August, 2008
With Grafton Group expected to report a sharp drop in first-half profits tomorrow as the property downturn on both sides of the Irish Sea takes its toll, investors will be keen to see how quickly the group is slashing costs to weather the storm.
Kingspan hit by tightening margins Thursday, 28th August, 2008
INSULATION SPECIALIST Kingspan has said tightening markets and rising raw-material costs will hit margins this year.
IL&P profits drop by 7pc as demand for life and pensions plummet Thursday, 28th August, 2008
Irish Life & Permanent's operating profit fell 7pc in the first half to €300m as life and pension sales dropped and the volume of new loans declined against the backdrop of a weakening economy.
FBD made €5.2m pretax loss in first half of year due to fall in investments Thursday, 28th August, 2008
INSURANCE COMPANY FBD made a pretax loss of €5.2 million in the first six months of the year due to a fall in the value of stock market investments, higher claims and a decline in premium income.
Iona investors progress takeover move Thursday, 28th August, 2008
Shareholders in Iona Technologies are expected to overwhelmingly approve the $162m takeover of the company by US group Progress Software.
US set to switch accounting rules Thursday, 28th August, 2008
US COMPANIES are set to switch to international accounting rules, a move that will, for the first time, see all the world’s most important listed groups reporting according to the same single set of standards.
Grafton Group's first-half profits expected to drop by 30pc or more Thursday, 28th August, 2008
With Grafton Group expected to report a sharp drop in first-half profits tomorrow as the property downturn on both sides of the Irish Sea takes its toll, investors will be keen to see how quickly the group is slashing costs to weather the storm.
FBD shares dive as insurer posts 37pc profit slide Thursday, 28th August, 2008
SHARES in FBD plunged as much as 8pc yesterday after the insurance giant reported a 37pc plunge in half-year operating profits and admitted its full-year results were "likely" to come in "marginally" below consensus.
Market slide lands Taylor Wimpey £1.5bn in the red Thursday, 28th August, 2008
The collapse in the housing market has left Taylor Wimpey, the UK's largest builder, £1.5bn in the red.