Wednesday 13 December 2017

Alkermes reports strong Q3 results

PHARMACEUTICALS

ALKERMES, the Ireland-headquartered pharmaceutical firm that last year acquired Elan's drug delivery unit, has significantly boosted its profit guidance for the current financial year on the back of a strong performance of its product portfolio.

Releasing third-quarter results yesterday, Alkermes said that revenue for the period climbed 185pc to $126m (€95m).

Adjusted earnings before interest, tax, depreciation and amortisation rose to $29.7m. That compared with a $4.1m adjusted loss in the corresponding quarter in the previous financial year.

Greyhound racing attendance up 3pc

LEISURE

THE greyhound racing industry grew last year as the sector mounted a small recovery, new figures show. According to the Irish Greyhound Board 2011 review, attendances rose just over 3pc last year to 756,561 while the IGB surplus added 7.6pc to top €3.15m. Restaurant pre-bookings at greyhound tracks jumped 17pc to 192,874. Profit from the Tote rose to €3.06m.

LVMH sparkles despite uncertainty

Luxury goods

PROFITS at LVMH for last year have beaten forecasts, with world's largest luxury goods group saying the outlook for 2012 was "excellent". Net profits rose 1pc to €3.06bn but were up 34pc if a one-off financial gain from LVMH's shares in Hermes in 2010 was excluded. Sales rose 16pc to €23.6bn on Asian growth and at the Louis Vuitton unit. LVMH, a French group, said that it "enters 2012 with confidence" despite economic uncertainty in Europe. There has been nervousness in the luxury goods sector in recent months amid worries that Europe's debt crisis could trigger a slowdown in fast-growing emerging markets such as China.

Irish Independent

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