Shorelark reports €4.4m pre-tax loss
A COMPANY established by developer Bernard McNamara to operate the four-star Radisson Blu hotel in Galway recorded combined pre-tax losses of €4.4m last year and in 2009. According to accounts just filed by Shorelark Ltd for 2010 and 2009, the company recorded a pre-tax loss of €210,267 last year and €4.2m in 2009. The returns show a contributory factor to the 2009 loss was impairments totalling €1.7m, including a property write-down of €1.5m. The returns show Mr McNamara resigned as a director of the company on February 16 of this year.
Smartphone-selling ban for Samsung
SAMSUNG has been banned from selling three models of its Galaxy smartphones in a number of European countries. The preliminary injunction was handed down by a court in the Netherlands after Apple filed a claim for patent infringement. The embargo is due to come into effect in seven weeks. A court in the Hague upheld Apple's claim concerning one specific patent, which outlines an interface for viewing and navigating photographs on a touchscreen. However, the judge rejected other patent issues, as well as Apple's claim Samsung had stolen many of its design ideas. It does not prohibit sales of the Samsung Galaxy Tab.
WPP has 53pc rise in first-half profits
GLOBAL marketing giant WPP has reported a 53pc jump in first-half profits, boosted by strong growth in Asia, Latin America and Britain, despite the uncertain outlook. Earnings after tax soared to £230.7m (€261m) from £150.8m a year earlier as revenues increased 6pc to £4.7bn. "Despite recent uncertainties, these results continue the post-Lehman bounce-back seen in 2010," WPP said.
Heineken shares fall on profits forecast
HEINEKEN said yesterday full-year profit was unlikely to grow, sending the shares down the most on record. So-called organic adjusted net income for 2011 will be "broadly in line" with last year, the Amsterdam-based company said. Heineken reported adjusted profit of €1.45bn on that basis last year, well below the €1.68bn expected by analysts.