Tuesday 20 March 2018

In Brief: €8m accumulated profit at Cosgrave

Dublin housebuilder Cosgrave Property Developments has again reported accumulated profits of close to €8m, according to accounts to the end of April 2012 filed with the Companies Registration Office.

The company is part of the much bigger Cosgrave Group, controlled by brothers Joseph, Peter and Michael Cosgrave.

The business made a small loss on turnover of €1.4m last year, according to the accounts.

However, accumulated profits stand at €7.9m The brothers are reckoned to be one of NAMA's biggest debtors and are best known for major Dublin housing schemes, such as the €300m development of the former Dun Laoghaire golf club.

German morale up for third month

GERMAN business morale improved for a third consecutive month in January, adding to evidence that Europe's largest economy is rebounding after a contraction in the fourth quarter of last year.

The Munich-based Ifo think tank said its business climate index, based on a monthly survey of 7,000 firms, rose to 104.2 in January, the highest reading since June 2012 and up from 102.4 in December.

Answer due on Aer Lingus takeover

EUCompetition Commission Joaquin Almunia has said a decision on Ryanair's takeover bid of Aer Lingus is expected in late February or early March. He said they were looking at the concerns and the possible remedies.

UK economy on 'triple-dip' edge

BRITAIN'S economy shrank more than expected at the end of 2012 with a North Sea oil production slump, lower factory output and a hangover from London's Olympics pushing it perilously close to a 'triple-dip' recession.

GDP fell 0.3pc in the fourth quarter, the Office for National Statistics said yesterday, sharper than a 0.1pc decline forecast by analysts. The news is a blow for Britain's Conservative-led government and the UK credit rating.

Net income up at Procter & Gamble

PROCTER & Gamble said its net income more than doubled in the final three months of last year.

The world's biggest consumer products maker boosted its profit outlook as its market share recovers.

From October to December, the company earned $4.06bn (€3.01bn), up from $1.69bn, in the same quarter last year. Its revenue increased 2pc to $22.18bn.

Irish Independent

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