Sunday 19 November 2017

The Punt: Coveney's loyal to the Core to sibling Simon

Greencore chief executive Patrick Coveney
Greencore chief executive Patrick Coveney

No guessing where the loyalties of Greencore chief executive Patrick Coveney lie in Friday's election.

The sandwich king is the brother of Simon Coveney, the Minister for Agriculture, Food and the Marine, (and, of course, Defence).

Patrick Coveney, inset, has been busy of late on his personal Twitter account, laying bare his understandable allegiances.

Yesterday, he tweeted a link to a feature in AgendaNI that lauds Simon's performance in his agriculture portfolio. Last week, it was a reaction to a Fianna Fáil tweet attacking his brother.

"Hard to stomach - was it not in 2009 that YOU bankrupted the country, collapsed economy, drove us into IMF," Patrick Coveney wrote in reply.

Tender costs go up but still at 2000 levels

With the revival of the property market, it makes sense that costs are creeping up in the sector.

The Society of Chartered Surveyors Ireland has warned about a lack of expertise in the industry after nearly a decade of property being in the doldrums, so it's no surprise that tender prices are now on the way up again.

The SCSI Tender Price Index now stands at 120 - the highest since 2008. While it is still well down on the highest mark of 152 recorded in the first half of 2007, the market is clearly trending up.

Even so, tender prices are at their lowest level for 15 years.

Micheál Mahon, who is chairman of the Quantity Surveying Group at SCSI, points out that more expensive raw materials, as much as people, are driving costs up. "As activity levels in the construction sector have increased so also have costs, due to material cost increases and capacity constraints," he said.

Irish Independent

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