Industry & Business

Markets

The Clarion Hotel Sligo on the market for €7m

The Clarion Hotel Sligo has been brought to the market by Savills on behalf of Receiver, Aiden Murphy of Crowe Howarth, with a guide price of €7m.
The 4 star hotel has been in operation since 2005 and was placed in receivership in 2012.
It is one of the most recognisable hotels in the North-West region and dates from […]

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McAfee Ireland’s profits reached €25m last year

Pre-tax profits at McAfee Ireland increased by 7 percent to €25m last year.
Accounts show that Cork-based McAfee Ireland’s revenues rose from €393.45m to €419.86m in the 12 months to the end of December last year.
McAfee has its headquarters for its operations in Europe, the Middle East and Africa (EMEA) in Cork and numbers employed there […]

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Volkswagen posts first quarterly loss in at least 15 years

Volkswagen today posted its first quarterly loss in at least 15 years.
The German group reported a third-quarter operating loss of €3.48 billion, in line with a €3.47 billion loss forecast in a Reuters poll of analysts.
The loss comes as the company was hit by costs related to its rigging of diesel emissions tests, and lowered its […]

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Largest growth for Dunnes Stores among Irish supermarkets

Supermarkets experience the best year in Ireland over the last five years
Dunnes Stores experienced the largest growth of any Irish supermarket in the last three months. The retailer increased its sales by 4.7 percent which brought its current market share to 23.2 percent.
This marks the eleventh successive period of sales growth for Dunnes, as its […]

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Grafton acquires Dutch firm Isero for €91.5m

Building materials group Grafton has agreed a deal to buy Isero, a specialist distributor of tools and fixings in the Netherlands, for €91.5m.
Isero trades from 38 branches under the Gerritse, Breur Ceintuurbaan and Van der Winkel brands.
The company reported revenues of €94m and adjusted operating profit of €8.8m for the year to the end of […]

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Starbucks and Fiat ordered to pay huge EU back taxes

    Starbucks and Fiat ordered to pay huge EU back taxes

The European Union is demanding that U.S. coffee chain Starbucks and carmaker Fiat repay up to 30 million euros each in tax breaks they received from EU nations, in a major ruling to cut down on sweet tax deals multinationals often shop for.
“All companies, big or small, multinational or not, should pay their fair share […]

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Irish manufacturing inches up from 18 month-low

    Irish manufacturing inches up from 18 month-low

After growing by over 5pc in 2014, Ireland’s economy is set to be the best performing in Europe again this year and manufacturing has expanded for 28 successive months, according to the Investec Manufacturing Purchasing Managers’ Index.
But while the index level at 53.8 is comfortably above the 50 line denoting growth, it is at its […]

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Fastnet to abandon oil and gas for biopharma

    Fastnet to abandon oil and gas for biopharma

Fastnet Oil & Gas, the exploration company listed on the Dublin and London alternative investment markets, is to seek shareholder approval to switch to the biopharma sector and abandon its activities off the coasts of Ireland and Morocco.
The company, which is chaired by one of the founding directors of Merrion Corporate Finance, Cathal Friel, and […]

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