Exploration group Aminex, the focus of a hostile takeover bid by Ofex-listed Apple Oil & Gas, has reported a net profit of $4.9 million (€5.5 million) for 2001, mainly due to the sale of most of its oil producing assets in Russia for $38.5 million.
The profits on this sale - part of which is being distributed to Aminex shareholders in a 6.75p sterling a share payment - disguise an operating loss of $367,000 on Aminex's continuing operations.
Intel executive predicts PC revival
A TOP executive of semiconductor leader Intel, which employs 3,150 in Ireland, predicts a revival of corporate demand for computers, saying past patterns and demanding new applications pointed to an upturn. Mr Louis Burns, Intel's head of personal computer chip operations, said the firm's past experience showed corporate computers bought to cope with year 2000 date issues were due for an upgrade. - (Reuters)
Deloitte action adjourned for week
THE case being taken by Deloitte & Touche and its retired former managing partner, Mr Paul Carty, against the Blayney inquiry was adjourned for a week when it came before the High Court yesterday. The case is due for mention next week. It is not known when it will go for hearing.
Mr Carty is seeking a judicial review of certain decisions and procedures of the Blayney Appeal Committee.
Hasbro reduces losses in first quarter
, the world's second-largest toy maker, yesterday posted a narrower first-quarter loss than a year ago, helped by cost cutting and strong sales of its key products like G.I. Joe action figures and Transformers.
Hasbro, which employs about 350 people in Waterford, reported a loss of $17.1 million (€19.25 million) or 10 US cents per share, in line with projections, compared with a loss of $24.0 million or 14 US cents per share a year earlier. - (Reuters)
New firm to deliver 10 nursing homes
HEALTHCARE firm, First Citizen Residential (FCR), will invest €80 million building 10 nursing homes in Ireland over the next four years to provide long-term nursing care for up to 500 individuals. The Minister for Public Enterprise, Ms O'Rourke, yesterday turned the sod for the first of the homes at Lanesborough, Co Roscommon.
FCR, a joint venture between Exsos, one of Denmark's largest healthcare firms, and some Irish investors, recently received planning permission to build further nursing homes in Ennis, Co Clare, and Milltown, Co Kerry.
ESB opens €6m upgrade in Donegal
ESB has officially opened a transformer station in Buncrana and the Letterkenny-Trillick line. The station and line are part of a five-year €85 million network upgrade. The €6 million Donegal investment is the single largest by the ESB in north-east Donegal since rural electrification in the 1950s.
Rising drug sales swell Allergan profits
said yesterday that first-quarter earnings before special items rose as higher sales of drugs like wrinkle-smoothing Botox more than offset declining sales of contact lens care products and optical medical devices.
The company, which employs about 1,000 people in Westport, Co Mayo, and Dublin, reported earnings for the quarter, excluding one-time items, of $65 million (€73 million), or 49 US cents per diluted share, compared with $50 million, or 37 cents per share, in the prior year and ahead of forecasts. - (Reuters)
Cordiant renames Gallagher & Kelly
relations company Gallagher & Kelly has been re-branded as Financial Dynamics Ireland following the €15 million acquisition of the company by the Cordiant Communications Group in April last year.
