Business World

Wednesday 22 November 2017

In brief: Kingspan philosophy

Eugene Murtagh, Kingspan founder and non-executive chairman
Eugene Murtagh, Kingspan founder and non-executive chairman

Kingspan told analysts that market share gains, new product development and geographic expansion are at the core of the group's philosophy. Davy Stockbrokers said, following a meeting with the company, that it expects "earnings momentum to accelerate as construction markets recover".

The stock may not look cheap on near-term multiples, but this is a compelling medium-term story that merits a premium rating, the stockbroker added. Like other building materials company, Kingspan provides exposure to any cyclical upturn in construction markets, Davy added.

ARDAGH TO SELL EQUITY

Ardagh Group chairman Paul Coulson says the company will restart talks on selling equity in the company "in earnest" as soon as regulatory issues on its planned purchase of Verallia North America are cleared. Mr Coulson made the comments to analysts after the company reported third-quarter results.

Ardagh said third-quarter earnings before interest, taxes and depreciation and amortisation rose to €197.7m from €173.2m a year ago. Ardagh said on August 29 that it was temporarily putting equity-raise talks on hold, pending outcome of regulatory issues on the VNA purchase.

PUPILS GET BROADBAND

UPC said it is supplying its superfast 100mbs fibre broadband to 48 schools in Dublin. In all, UPC is supplying 71 schools across Ireland with fibre broadband as part of the nationwide Schools Broadband Scheme. "The provision of superfast broadband in schools is vital to ensure Irish children are equipped with the technological resources needed to flourish in today's digital economy," said UPC executive Henry Minogue.

"We have invested over €500m in our fibre-powered network which is enabling these developments."

NEW MEDICAL TECH JOBS

Half of medical technology companies expect employee numbers to increase during the fourth quarter, according to a new survey. The survey by the Irish Medical Device Association says 42pc of companies said they expected employee numbers to remain the same and the remaining 8pc said they expected a slight decrease.

Half of medical technology companies say they expect employee numbers to increase during the quarter while 55pc expect export sales to increase. More than three-quarters expect productivity to increase.

Irish Independent

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