Business World

Tuesday 25 April 2017

Driving school on road to success

A driving school founded 36 years ago has won the Donegal Business of the Year Award. The Swilly Group, based in Letterkenny, is now the third biggest driving school in the country.

The company, which has 14 full-time and 30 part-time staff, gives driving training for cars, lorries and buses as well as transport consultation.

"We were totally shocked when our name was called out for the overall award," said Brian Sweeney, managing director of Swilly Group.

Somers new head of Ireland-US Council

THE former head of the National Treasury Management Agency (NTMA), Michael Somers, has been appointed Irish head of the Ireland-US Council, a business organisation.

The council aims to foster closer business ties between Ireland and the US and dates back to the preparations for President Kennedy's 1963 visit to Ireland. Mr Somers is currently deputy chairman of AIB.

He takes over on the council from former Bank of Ireland boss Brian Goggin.

HMV profit forecast is lowered again

HMV said difficult trading conditions mean full-year pretax profit before one-time items will be about €34.3m, the third time it's lowered forecasts this year.

The retailer of books, music and DVDs also said its lenders agreed to move the 12-month banking-covenant measurement period to end on July 2 instead of April 30.

HMV's sales have slumped as the company considers selling its Waterstone's bookstore chain and Canadian outlets to meet the lending agreements..

New unit will work on nicotine line

British American Tobacco Plc, the maker of Lucky Strikes, created a unit that will seek to develop nicotine products for people wanting an alternative to cigarettes as governments aim to reduce smoking.

Nicoventures Ltd plans to develop tobacco-free nicotine products, Kate Matrunola, a spokeswoman for London-based BAT, said yesterday.

The unit employs four people and will discuss with regulators what sort of products might work, she said. "It's not for cessation," Ms Matrunola said. "There is an unmet need out there for consumers" who don't want to quit.

Irish Independent

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