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Travel firm narrows pre-tax losses for '09

The firm behind leisure operator Joe Walsh Tours significantly narrowed its pre-tax losses in 2009 to €116,000 from €2.35m a year earlier.

Turnover shrank 38pc to €35.8m. Managing director David Walsh told the Irish Independent yesterday that virtually all the decrease in turnover for the period could be attributed to what was a bumper year in 2008. He said that turnover had returned to a level that reflected a spike in bookings a year earlier.

Avolon expects to build on success


AVOLON, the aircraft leasing group, said it expects further expansion of its business in the Middle East and Asia-Pacific, having leased a total of 26 aircraft to nine airlines in the regions over the past year. The group, which has raised $3bn (€2.07bn) in capital, began operations over a year ago.

SMEs not claiming R&D tax breaks


THERE is significant development activity taking place among hundreds of Irish SMEs for which they could be claiming R&D tax credits that can often be converted into cash, except they are unaware of their entitlements, an SME conference was told yesterday. Speaking at the 'Food for Thought -- Smart Ideas for Your Business' event in Dublin, ISME chief executive Mark Fielding said "Innovation is at the very core of SMEs".

Head of True Finns party to visit Ireland


THE leader of Finland's anti-bailout True Finn party is coming to Ireland within weeks as the other parties form a government without him. Timo Soini converted from Lutheranism to Catholicism while living in Ireland and said the country is the one place he can relax. Yesterday, the leader of Finland's coalition talks said a new prime minister will be picked next week.

Nokia wins patent dispute with Apple


NOKIA won an almost two-year patent dispute with Apple, in a settlement that awards a one-time payment and royalties to the Finnish handset maker. Nokia rose as much as 4.1pc in Helsinki trading. The agreement will bolster the Devices & Services unit's second- quarter profitability, Espoo, Finland-based Nokia said.

Irish Independent