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Doubts cast over Greencore plans

ANALYSTS remain sceptical that Greencore will be able to mount a meaningful bid for Northern Foods.

Greencore is casting around for a partner, and has spoken to food companies and a number of private equity firms about mounting a joint bid, but that is expected to involve a break up of Northern, something explicitly rejected by the Northern pension trustees in its agreement with tycoon Ranjit Boparan. The trustees must approve any transaction worth more than £20m (€23.7m).

Profit down 10pc at DSG retailers

DSG Retail Ireland, the company behind Currys and PC World, made a pre-tax loss of €8m last year, new figures confirm. According to accounts just filed with the Companies Office, they show that DSG Retail Ireland's revenues declined by 10pc from €166m to €148m in the year to the end of May last.

Top hotel selling land to pay off debt

THE operators of one of the best-known five-star hotels in the west of Ireland, the Glenlo Abbey Hotel, are engaged in a sell-off of land to pay off the company's bank loans and overdrafts of more than €8m. The company recorded losses of €3.2m to the end of December 2008.

NTR power firm buys US company

NTR's solar development company, Tessera Solar, said yesterday that AES Solar, a joint venture between the AES Corporation and Riverstone Holdings, has acquired the 709MW Imperial Valley Solar Project in California. AES Solar develops, finances, constructs, owns and operates utility-scale solar power plants globally.

Odds lengthen on Ladbrokes' profits

Irish punters risked less of their money at betting chain Ladbrokes last year, with the amount of money staked at its 208 stores in the Republic and 78 in Northern Ireland down 12pc last year compared to 2009. Ladbrokes said trading conditions here remained challenging. On a group basis the company yesterday reported a 20pc rise in operating profits to £202.3m (€240.5m) for 2010, better than forecast by analysts.

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