Saturday 18 November 2017

Andor shares fall after profit warning

SHARES in Belfast-based Andor Technology plunged by a third yesterday after the company issued a profit warning for the full year. The move came after two orders fell through for the medical devices company, creating a £3m (€3.7m) shortfall in orders for this year. Chief executive Conor Walsh said the news meant the second half of the year would be "more challenging than originally thought (but) our investments have put in place building blocks to support our strategic plans."

Rooney named as new NAMA CFO

APPOINTMENT

NAMA has appointed Donal Rooney as Chief Financial Officer. The appointment of a chief financial officer was recommended in a review of NAMA by former HSBC banker Michael Geoghegan, at the request of Finance Minister Michael Noonan. Mr Rooney currently works with NAMA in its portfolio management and asset recovery divisions.

Calor and Hamilton in joint venture

ENERGY

CALOR has announced a joint venture with Hamilton gas products. Calor is the main supplier and distributor of Liquefied Petroleum Gas in Ireland and is teaming up with Hamilton Gas Products, Bangor, a leading supplier of domestic appliances in the United Kingdom and Ireland. The strategic agreement will see Calor purchase 50pc of the shares of Hamilton through a capital investment in the company. The two brands will promote appliances via the Hamilton website and Calor's dealer network. According to the companies' joint statement, revenue in the Irish domestic appliance market grew to €766m in 2011.

Global food prices fall sharply in May

PRODUCE

GLOBAL food prices fell sharply in May, dropping 4pc from the previous month to their lowest level since September 2011, the UN Food and Agricultural Organisation said. The FAO's Food Price Index, a monthly measure of changes in a basket of food commodities, was nine points lower at 204 points, a statement said. That was "due to generally favourable supplies, growing global economic uncertainties and a strengthening of the US dollar", it added.

Irish Independent

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