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Etihad posts record figures for quarter

ABU DHABI-based airline Etihad posted record figures in the first quarter of the year, with revenue climbing 21.2pc to $770m (€531m) and passenger numbers rising 10.6pc to 1.85m.

Chief executive James Hogan said the airline, which operates 10 flights a week between Dublin and Abu Dhabi, had delivered positive earnings before interest, tax, depreciation, amortisation and rentals in the quarter for the first time.

Sterling Energy CFO quits his job

THE chief financial officer of Sterling Energy, Jonathan Cooper, has tendered his resignation to the board of the company. He's leaving to pursue other opportunities, according to the firm, in which businessman Denis O'Brien has just over a 7pc stake.

1Spatial wins key contract from OSi

THE UK location-based data firm 1Spatial has secured a multi-year contract from Ordnance Survey Ireland (OSi) that's worth in excess of €1m. The contract will support the re-engineering of Ireland's large-scale map database into a detailed digital database that will be the foundation of OSi's operations for the next two decades.

Perpetual outfit's losses deepen

LOSSES at Dublin-based Pi Investment Management, which is owned by Australian group Perpetual, widened to €6.3m from €4.4m in the year to the end of June 2010 as the company continued to struggle, according to accounts just filed for the business. The firm -- which Perpetual has previously conceded hasn't worked out as intended -- had notched up accumulated losses of €44m at the end of last June.

Discounting hits Heineken revenues

HEINEKEN slid in Amsterdam trading after growth in first-quarter revenue missed estimates because of discounting that boosted the amount of beer sold. So-called organic revenue rose 3.6pc in the quarter, less than a 5.5pc increase in volume, the Amsterdam-based brewer said yesterday. Sales growth missed the 3.8pc median estimate of five analysts.

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