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Losses at Carlton Group hit €1.5m

ONE of the country's leading hotel companies had racked up accumulated losses of just over €1.5m by the end of last year. The Carlton Hotel Group also has debts totalling €4.5m due within 12 months. The group has hotels across the country, including Dublin, Galway, Kinsale, Tralee and Westport. Latest accounts show the group's directors provided a letter of guarantee to Allied Irish Banks for €1.5m.

Twitter ad division targets SMEs

TWITTER is opening a new advertising division for SMEs in Europe. The microblogging site is advertising for a "small and medium business sales director/manager" based in Dublin to ramp up advertising from a sector it has largely neglected outside the United States up to now.

Connacht Gold buys organic firm

CONNACHT Gold is to buy the "Organic for Us" line of dairy products from The Different Dairy Company. Connacht Gold said the deal would "further strengthen" its consumer food portfolio.

The deal is the latest from Connacht Gold, which earlier this year bought Donegal Creameries' milk processing business. Eoghan Sweeney, general manager of consumer foods, said: "We are delighted to add yet another prestigious and quality brand to our award-winning portfolio."

Glanbia appoints Phelan to new role

GLANBIA has appointed Brian Phelan as an executive director with responsibility for "group development and global cheese". Mr Phelan, who is currently group human resources/operations development director, will take up the role from January 1. Mr Phelan joined the Group in 1993 from KPMG. For the past eight years his role has included responsibility for HR, group business services, as well the Glanbia Cheese and Nutricima joint ventures.

KBC opens branch as it cuts losses

BELGIAN lender KBC is to repay a €3bn Belgian government bailout with cash raised on the markets as mortgage losses at its Irish unit showed signs of slowing yesterday.

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The news came as the head of KBC Bank in Ireland said that the pace fell in October and November for the first time in five years.

"We expect things to moderate in '13 and we're looking forward then in '14 and '15 to reverting to substantial profitability as a business," KBC Ireland head John Reynolds said at the opening of its first retail branch on Baggott Street in Dublin.

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