Business Irish

Sunday 21 January 2018

THE PUNT: Whiskey King Caspar takes Tullamore helm

Sláinte: Tullamore Dew. Photo: Thinkstock
Sláinte: Tullamore Dew. Photo: Thinkstock

TULLAMORE Dew -- the world's second largest Irish whiskey brand -- has appointed a new global brand director. With the company selling more than 850,000 cases each year, Caspar MacRae's duties involve promoting the company across international markets and continuing that strong performance.

Mr MacRae has the right pedigree.

He previously served as the company's Head of Innovation before becoming Vice-President of Marketing in the US, one of the company's key markets.

He said it was an honour to be appointed to the role at such an "exciting time".

"Its growth over the past three years has been remarkable and with our ongoing investment strategy we aim to reach millions more fans worldwide over the coming years," he said.

"Tullamore Dew is now perfectly positioned to continue to grow its market share in key international markets, and also to begin pioneering an exciting new path for the brand into emerging whiskey markets across the globe."

Mr MacRae is a Geography graduate from the University of Edinburgh.

He began his marketing career with the Edrington Drinks Group where he was responsible for the development of national and regional US branding and commercial planning for their portfolio of premium spirits. He first joined William Grant & Sons in 2008 as Category Marketing Director for its US business, before progressing to become Head of Innovation and US Vice-President of Marketing.


Young analysts to earn their wings

THE Punt can only imagine the suggestions Ryanair boss Michael O'Leary might have for what the CFA acronym could stand for when presented with a Chartered Financial Analyst.

But the airline is giving group hugs all over the place these days as it reinvents its public image and now it's the turn of the Chartered Financial Analysts' Society. Ryanair will be the focus of the Irish arm's annual research challenge, where the society invites entries from third-level students in a competition where it promotes best practice in equity research among the next generation of analysts.

Teams each make a presentation to a panel of judges on their analysis of a firm -- in this year's case, Ryanair -- and make an investment recommendation. The competition has local, regional and then a global winner. The Irish title is currently held by University College Cork. This year UCC will be challenged by Trinity College, UCD, NUI Galway and, for the first time, a team from Queen's University Belfast. With Ryanair to start taking delivery this year of the first aircraft under its new 175 plane order with Boeing, the participants will have plenty to think about. Not least, just how the cuddly new image and a marketing push towards families and business travellers might play out.


€71k in six months for Danninger receiver

The Punt is always intrigued by receivers' abstracts -- which arguably says an awful lot more about the Punt than it does about anything else. Anyway, one of the latest to catch our eye is an update on Liam Carroll's Danninger vehicle.

It was placed in receivership in October 2009, with David Hughes from Ernst & Young now steering the property firm. AIB had made claims totalling €554m against four companies connected to Mr Carroll, including Danninger.

The most recent receiver's report for Danninger covers the period from April 6 last year to October 5. It shows that Danninger had sold €8.8m worth of property in the period and received rent totalling just over €1m. That has brought the total receipts at the firm to be carried over to the next report to €34.1m.

As always, it's interesting to see just how much the receiver is being paid. In this instance, it was €71,000 for the six-month period. Legal fees amounted to nearly €65,000, while payments to a fixed-charge holder -- a lender to Danninger -- totalled €7.5m. That brought the total payments made by Danninger since the appointment of the receiver to €31.6m. Mr Carroll -- who had been one of the country's biggest developers -- was one of the first high-profile casualties of the property bust.

Irish Independent

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