Today's other stories in brief

Ladbrokes' Irish business up by 48%

Bookmaker Ladbrokes' Irish business reported a 48 per cent rise to €103.5 million in its winnings from punters last year due to an expanded network of outlets.

The company said profits at its Irish shops rose 21 per cent to €27.6 million during the 12 months to December 31st.

However, on a like-for-like constant-currency basis, the company said gross wins in Ireland were down 8.8 per cent, “reflecting the weak economic conditions” and the high number of horse-racing meetings in the Republic that were abandoned.

Ladbrokes grew its shop numbers in Northern Ireland last year due its acquisition of Barney Eastwood’s 54 shops in the North, a deal valued at €181 million, the addition of six McCartan shops in April and two new licences. It is now the largest bookmaker in the North with 78 units.

Over the year it added 12, and closed three, shops in the Republic, where it operates 208 outlets.

As a result of the increase in shop numbers, operating costs in Ireland rose 59.3 per cent to £58.8 million (€66.36 million), the London- listed company said yesterday.

On a group-wide basis, Britain’s biggest bookmaker reported full-year operating profit slightly ahead of market expectations but said trading in the current year had been affected by race cancellations.

Irish ‘factory gate’ prices up by 3.2%

Prices for goods leaving factory gates in Ireland increased by 3.2 per cent over the year to January, following a rise of 0.4 per cent last month.

The annual wholesale price index, which measures the selling price of domestically manufactured goods, increased 0.4 per cent in January compared to a decrease of 0.6 per cent in January 2008, according to the Central Statistics Office.

As a result, the index had a reading of 90 in December.

The index took prices in 2000 as a benchmark when it set the baseline at 100.

The most significant changes in the month was a 0.7 per cent rise in prices for exports and a 0.3 per cent fall in prices for products sold domestically.

Last month, prices for pharmaceutical and other chemical products rose 1.9 per cent, while computer and office machinery prices were 1.2 per cent higher.

Over the year, the price of food products including bread and confectionary rose by 12.5 per cent compared with January 2008, while prices for pharmaceutical products were up 10.3 per cent. Prices for diary products were 9.7 per cent lower.

Forum told nuclear our best option

Nuclear power is the Republic’s real green energy option, according to aviation tycoon Ulick McEvaddy.

Speaking at the Association of Chartered Certified Accountants business leaders’ forum in Dublin yesterday, Mr McEvaddy said nuclear represented the Republic’s best chance of meeting its carbon emission targets.

Providence give Aje oil field thumbs up

Exploration group Providence said yesterday that it and its partners were preparing a development plan for its Aje oil field interest off the Nigerian coast.

Providence said its operating committee had deemed the well commercial.

The company has a 5 per cent net revenue interest in the oil field.