Archive for April 2022

Smurfit Kappa said its revenue and core profit both rose by 33% year on year in the first quarter, which the boxmaker attributed to significant investment to support growing demand and ensure security of supply. In a trading update ahead of its AGM today, Europe’s largest paper packaging producer said demand remains strong in the…

KBC Bank Ireland said it has decided to extend the notice period for the closure of current accounts from 90 days to six months. The move brings it in line with Ulster Bank, which is giving customers six months to move their accounts, and comes days after the regulator told banks that they need to…

AIB said it has started exclusive discussions with NatWest for the acquisition of about €6 billion of Ulster Bank’s performing tracker mortgages. The bank said that any potential transaction remains subject to negotiations and agreement. It is believed that up to 40,000 tracker mortgages could be included in the sale. The Competition and Consumer Protection…

Home builder Glenveagh Properties said it is on track to deliver 1,400 suburban homes in 2022 with 80% now sold, signed, or reserved. In a trading update ahead of its AGM today, Glenveagh said it has a total order book of 2,160 units across its suburban and urban segments. These include 358 suburban homes currently…

Food technology and ingredients company Kerry Group said it was seeing continued strong business growth during the first quarter of 2022 as it reaffirmed its full year earnings guidance. In a trading update, Kerry reported group volume growth 5.6% for the three months to the end of March. Kerry said its Taste & Nutrition division…

Google will continue to invest in Ireland, saying changes to the international corporation tax regime make “no difference at all” to their investment plans. In an exclusive interview with RTÉ News, the chief executive of Alphabet, the parent company of Google, said: “We are going to continue to invest – We have invested over €1.5…

The euro fell below $1.06 for the first time in five years against a broadly strong US dollar today amid rising concerns around energy safety and growth slowdown in China and Europe. The euro slipped to a five-year low of $1.05890 after Russia’s Gazprom said it would cut gas supply to Poland and Bulgaria. The…

Bank of Ireland said it has made a positive start to 2022 with its income, costs and capital all performing in line with expectations. In an interim management statement, Bank of Ireland said that customer loan volumes were lower at €75.2 billion at the end of March compared to €76.3 billion at the end of…

Outgoing Bank of Ireland chief executive Francesca McDonagh is to take up a new job at Swiss bank Credit Suisse. Ms McDonagh will take up the role of CEO of the Europe, Middle East and Africa region of Credit Suisse by October. Bank of Ireland confirmed yesterday that Ms McDonagh would be stepping down from…

Irish foreign exchange technology firm Assure Hedge is launching a service which it describes as aiming to ‘bring hedging to everyone’. Hedging is a method – deployed by businesses usually – to protect against future changes in currency exchange rates, whether expected or unexpected. Research indicates that while 80% of large companies with currency risks…