Thursday 19 January 2017

Lagan suffers 39pc fall in profits

CONSTRUCTION

Published 20/04/2010 | 05:00

PRE-TAX profits at Lagan Cement fell 39pc to €5.2m in the 12 months to the end of March last year as the Northern Ireland-owned manufacturer felt the impact of the construction crash.

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Accounts filed at the Companies Office show that revenue from operations in the Republic fell 12pc to €58.6m during the period.

Mortgage lending rises in Britain

Home loans

MORTGAGE lending in Britain increased by nearly a quarter during March, but the market is still "subdued" according to the Council of Mortgage Lenders. Gross mortgage lending was an estimated £11.5bn (€13.1bn) last month compared with £9.3bn (€10.6bn) in February, and was 3pc higher than the £11.2bn (€12.7bn) lent in March last year. But mortgage lending in the first quarter of this year was down 24pc on the same period last year.

Exports key to UK recovery -- report

ECONOMy

THE British economy's road to recovery is through exports and overseas business, according to a new report. Ernst and Young Item Club's latest economic outlook claims exports are already strengthening and British businesses are beginning to look overseas. "The lack of domestic growth opportunities will force exporters and other organisations to seek overseas income streams," said Peter Spencer, the group's chief economic adviser.

Goldman inquiry crosses Atlantic

BANKING PROBE

THE inquiry into alleged fraud at Goldman Sachs crossed the Atlantic yesterday with the Financial Services Authority in London beginning a preliminary investigation. This follows the move by the US Securities and Exchange Commission to sue Goldman on suspicion of securities fraud. The bank issued a stern rebuttal of the allegations and said it would vigorously contest the charges.

Toyota hit with record $16.4m fine

MOTORING

CAR maker Toyota has agreed to pay a record $16.4m (€12.17) fine to the US government on the back of safety concerns. Millions of cars in the US had to be recalled earlier this year after a faulty accelerator pedal was discovered. The fine is the largest ever handed out by the department of transportation.

Irish Independent

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