Business Irish

Friday 18 August 2017

Capita buying arm of AIB for €33m

BANKS

AIB is selling its international financial services arm to US giant Capita for €33m. The news comes a week after Capita emerged as one of the five strategic investors whose €1bn punt on Bank of Ireland saved the institution from majority state ownership.

Petroceltic shares fall over flow rates

ENERGY

SHARES in Dublin-based oil-and-gas explorer Petroceltic International plunged yesterday after chief executive Brian O'Cathain said the firm was disappointed with flow rates at a well in Algeria. Shares plunged 16.5pc in London to 6.99p. In Dublin, shares fell 9pc yesterday.

Readymix expecting €20m first-half loss

CONSTRUCTION

DUBLIN-listed Readymix said it expected to make a first-half loss before tax of €20.4m, up from €6.6m for the same period last year. Earlier this year, Readymix said talks with potential buyers had ended without an offer for the company, which is majority owned by Mexico's Cemex. Shares in Readymix ended up yesterday at 16 cent, valuing the company at €17.5m.

Five-fold profit jump for car-hire group

RESULTS

Accounts for car-hire firm Dan Dooley Group Ltd show that pre-tax profits increased five-fold to €349,756 in the 12 months to the end of November last. However, a spokesman confirmed yesterday the company's 2011 performance would show a much bigger increase. He said: "The company is having a much better year in 2011."

Pension-fund values fall during July

Performance

IRISH pension funds declined last month, according to Aon Hewitt's pension-fund investment performance figures for July. Traditional managed pension funds fell by 1.2pc in June.

Irish Independent

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