Tuesday 25 April 2017

Homebase reports €46m pre-tax loss

The Irish arm of DIY retailer Homebase last year plunged further into the red to record pre-tax losses of €46.1m. In accounts just filed by Homebase House and Garden Centre Ltd, the firm sustained the loss after booking a €43.5m impairment and onerous lease charge as a result of the continuing retail downturn.

The pre-tax loss of €46.1m in the 12 months to the end of February 26 this year follows the company sustaining a pre-tax loss of €1.26m the previous year. The filings show that revenues at the firm -- which operates 15 outlets across Ireland -- last year dropped by 5pc from €61.9m to €58.7m.

236 court actions on unpaid energy bills

utilities

Energy companies took 236 court actions this year against householders who did not pay their bills, according to new figures from the business intelligence analyst Vision-net. The value of these judgments was €442,342, making the average amount awarded against householders €1,834. Last year, the value of 344 court actions was €948,471.

AIB expects record year of investment

banks

AIB said it was anticipating a record year of seed funding investment in 2012 and expected to support the creation of at least 20 new high-performing businesses in the coming year. Investment in 2011 supported about 130 high-value jobs with the same number of jobs targeted to be supported in 2012. "AIB facilitates the provision of such finance through two dedicated Seed Capital Funds, which have a combined total €75m available for investment, making AIB the largest provider of seed capital funding in Ireland,'' said the bank.

A&L Goodbody opens office in US

LAW FIRMS

A&L Goodbody, one of Ireland's largest law firms, has announced the opening of a new office in Palo Alto in Silicon Valley, California. Partners John Whelan and Paul Fahy have been appointed to head up the new Palo Alto office. Both had significant experience in foreign direct investment into Ireland, IP, tax and other legal issues, said the firm. "Together with other members of the firm's US group, they will further strengthen relationships between the business hubs on the West Coast and Ireland.''

Irish Independent

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