Thursday 14 December 2017

Business news in brief

Kennedy Wilson closes in on deal

Kennedy Wilson remains the preferred bidder for a group of buildings that include the Stillorgan shopping centre and a higher bid won't be accepted, the vendors said yesterday.

The higher bid was announced on Wednesday. The bondholders who are selling the 16 properties said yesterday that they still planned to sell the portfolio of former Treasury Holdings buildings to Kennedy Wilson for €306m. Other assets include Merchants Quay Shopping Centre in Cork, and a plethora of high-end office blocks that include Bank of Ireland's headquarters on Mespil Road, FAS's offices on Baggot Street, and KPMG's main Dublin offices.

VODAFONE WINS STATE CONTRACT

VODAFONE Ireland has won a contract to supply broadband to government departments and public sector agencies, Public Expenditure Minister Brendan Howlin said yesterday.

The company plans to invest €5m to provide this infrastructure over the next three years.

MANUFACTURING PRICES UP 1.9PC

MANUFACTURING prices rose 1.9pc in May 2013 from the same month last year, according to figures from the Central Statistics Office.

The rise was similar to the increase posted in the 12 months to April. May's gains were driven by a 6.2pc increase in computer, electronic and optical product prices, a 5.2pc rise in meat and meat-product prices and a 1.8pc increase basic pharmaceutical products.

TABLET COMPUTERS LIFT PROFIT AT DIXONS

DIXONS said profits in Britain and Ireland soared 39pc thanks to triple-digit growth in sales of tablet computers.

Underlying group sales increased 4pc to £8.2bn (€9.6bn), though gross margin fell 0.7pc, reflecting a higher proportion of sales with lower margins. Dixons also operates in northern and southern Europe. Pretax losses narrowed to £115.3m (€134.9m) thanks to continuing problems with the company's PIXmania unit.

AVONMORE TOPS IRISH RETAIL BRANDS

GLANBIA'S Avonmore brand is the top brand in Ireland, according to retail research company Kantar which looked at 200 brands in this country.

Other brands from the food sector to do well included Denny at number three and Galtee at number 16, said Goodbody Stockbrokers.

Irish Independent

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