Friday 28 October 2016

What it says in the papers: business pages

Published 23/08/2016 | 06:57

Here are the main business stories from this morning's papers:

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Irish Independent

* Ibec, has warned that Dublin will lose out in the global competition to attract jobs and investment if Dublin City Council approves a plan to lower the maximum height allowed for 'low rise' residential buildings in its inner city and suburbs.

In its submission to the Draft Dublin City Development Plan, due to be published today, the employers' representative group describes proposals to reduce the heights permissible as "crazy" given the pressure of population growth in the capital.

* THE run-up to Brexit led to a fall in advertising at the former UTV local radio stations, the chairman of Belfast-based Wireless Group plc has said.

But the company said it was unclear what impact the vote to leave the EU would have in the "all important" quarter four.

* Agriculture Minister Michael Creed ruled out any Government intervention in the row between Irish beef processor Larry Goodman and the Irish Farmers Association (IFA).

Mr Creed said there was no role for his department to play in the decision by Mr Goodman's Anglo Beef Processors (ABP) group to cease the automatic collection of levies charged on animals on behalf of the IFA.

The Irish Times

* Profits at building materials maker Kingspan increased by 50pc to €154m in the first six months of the year, new figures show.

The firm also said revenues at the company increased by 19pc to €1.47bn during the period.

* Revenue at mortgage provider Pepper increased by 28pc last year, however a large amount of staffing costs saw its profits fall.

The company nailed down a number of new loan servicing deals that led to it posted revenue of €37.8m during the year.

* Lifestyle Sports is eyeing up a new store in Arnotts on Henry Street in Dublin as the company looks to up its game in the European retail market.

According to a report in The Irish Times, Lifestyle has agreed a deal to replace the Elverys concession already in Arnotts.

Irish Examiner

* Building materials group Kingspan is looking towards 15pc higher revenue this year after the company beat estimates in the first half of the year.

Despite the strong ambitions for the company, movement in its shares point to a small bit of concern over the Brexit effect.

* Applegreen's plans to expand its motorway services network have suffered a blow.

Applegreen's plans to expand its motorway services network have suffered a blow.

* Exploration firm Europa Oil and Gas has began talking up some of its risker assets based in Irish waters as the company seeks a partner to develop them.

The moves comes after brent crude oil slipped below $50.

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