Sunday 28 May 2017

Businesses focus on restructuring

RECESSION

A FRESH survey of 45 Dublin businesses shows restructuring remains a major focus for 2010 with 29 of them planning to carry out restructuring in the year ahead.

Some 19 of the sample expect to renegotiate existing banking facilities this year; 16 expect to extend or reschedule capital repayments; 12 expect to restructure existing bank borrowings and 11 expect to raise new capital. The poll was carried out by the Dublin Chamber of Commerce and PwC.

Realex turnover increases 12pc

TECHNOLOGY

ONLINE payments venture Realex enjoyed a 12pc rise in turnover in the year to April, booking total revenue just shy of €6.5m. Accounts just filed for Realex's corporate entity 'Pay and Shop Ltd' show the rising income was complimented by a €40,000 improvement in pre-tax profits of €721,000. Founded by Colm Lyon in 2000, Realex is chaired by Bank of Ireland governor Laurence Crowley.

Microsoft reports 60pc profit jump

SOFTWARE

Microsoft has reported a bigger than expected 60pc jump in profit for its latest quarter, helped by strong sales of Windows 7, and said it expected business technology spending to recover this year. The world's biggest software maker said net profit came to $6.7bn, or 74 cents per share, for its second financial quarter, compared with $4.2bn, or 47 cents per share, a year ago.

House prices in the UK up 8.6pc

HOUSE PRICES

UK house prices rose by 8.6pc in January, compared with the same month last year, raising hopes that annual inflation will soon reach double digits for the first time in almost three years. The last time the UK saw year-on-year house price rises of more than 10pc was in May 2007.

Barclays' legal actions settled

JUDGMENTS

LEGAL actions in which Barclays Bank sought €9m in judgment orders against two well-known property players over development loans have been settled and struck out at the Commercial Court. The actions were against David Courtney, Belgrave Square, Rathmines, Dublin, and Bernard Doyle, Waterside, Dargle Road, Bray, Co Wicklow, who were being sued for €4.5m each.

Irish Independent

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