Other finance stories in brief
Barclays unveils €5bn share issue
Barclays Bank has unveiled an £4.5 billion discounted share issue in which Qatar Investment Authority and Sumitomo Mitsui Financial Group will be major investors.
Barclays, Britain's third-largest bank, has lost more than $5 billion on assets hurt by the subprime crisis and credit crunch, and said last week it planned to sell billions worth of shares to rebuild its capital base.
- (Reuters)
Fyffes aiming for double-digit growth
Fyffes continues to target an increase in adjusted earnings before interest and tax in the mid-teens in percentage terms, and a low double-digit percentage increase in adjusted earnings per share.
"The industry is experiencing accelerating cost inflation, particularly in relation to bunker fuel. The target for 2008 assumes the group can achieve a year-on-year increase in . . . selling prices in all its markets," the company said.
CPL set to meet market forecasts
Recruitment firm CPL Resources says its pretax profit for the year to be in line with market expectations.
Despite "challenges" presented by market conditions, the firm said it was on target to meet forecasts for the year to June 30th.
21m turnover for Brightwater Group
Brightwater Group has reported turnover for last year of €21.3 million. The recruitment group, which celebrates its 10th anniversary this year, did not disclose profits, but said it expected to maintain turnover.
The company has six offices in Dublin, Belfast and Cork. It employs 100 people.
Airtricity in two Portugal ventures
Airtricity is to further develop its Portuguese wind farms, announcing two joint-ventures in the region.
The company signed deals with real estate firm Riviera and Spanish, and Portuguese wind farm developer Hispano Lusa.
With Riviera, the firm will develop a number of wind farms totalling approximately 250MW. Airtricity will hold a 60 per cent share in the venture. With Hispano Lusa, a company called Airtricity Marao will be established, of which Airtricity will own 90 per cent. It will potentially develop eight wind farms with a capacity of 150MW.
Forfás tenders for energy study
State enterprise agency Forfás is tendering for an organisation to carry out a long-term energy study that will be used to underpin future policies in the area.
The agency said it is seeking research on 10 fuel types, rating them according to competitiveness, security of supply, sustainability and climate impact.
EU Small Business Act launched
New European legislation will cut red tape, boost VAT concessions and strengthen late-payment protection for small businesses.
The European Commission launched a Small Business Act yesterday, designed to create a framework for small- and medium-sized enterprises across the union.
Isme attacks waste disposal costs
The Irish Small and Medium-Sized Enterprises Association (Isme) is blaming Government and local authorities for the increasing cost of waste disposal.
The group said that waste disposal costs here are three times what they are in the UK.
