Archive for May 2022

Drinks group C&C has reported a near 88% increase in revenues for the year to the end of February and said its new fiscal year had started strongly with more price hikes likely on the way. C&C said its revenues jumped by 87.8% to €1.438 billion from €765.8m the previous year. The company also reported…

The chief executives of the main banks here are to meet representatives of the Central Bank today to discuss plans for the departure of Ulster Bank and KBC from the market. The regulator summoned the remaining banks to a meeting in recent weeks as it called publicly on them to do more to facilitate hundreds…

Rising input costs and inflationary pressures have been identified as the top threat to business growth in the food sector here. In a survey of 70 small and medium sized food firms carried out by the food business representative group Love Irish Food, and professional services firm, PwC, 97% identified those areas as presenting the…

Just 1% of people here have their main current account with a digital bank, a survey of consumers carried out on behalf of the Department of Finance has found. While thousands of people use services like Revolut to transfer money, the fintech recently expanded their presence in the Irish market offering a full banking service…

New orders in the construction sector fell last month, as a result of near-record cost increases, the latest construction purchasing managers index for Ireland from BNP Paribas Real Estate has found. However, despite the depressed demand, purchasing, activity and employment all rose further, it found. “The latest PMI confirms that construction activity continued to expand…

Ryanair has today posted a €355m loss for the pandemic-hit 12 months to the end of March. The airline said it was impossible to accurately forecast anything beyond hoping for a return to “reasonable profitability” this year. The airline has been operating more flights than any other European airline according to air traffic regulator Eurocontrol.…

Irish household net worth soared to a record high in the final three months of last year, despite the various economic pressures, new data from the Central Bank shows. In total, household net worth rose €38.5 billion between October and the end of December, to reach €995 billion. This equated to €198,498 for every man,…

The annual rate of inflation rose to 7% in April, according to figures published by the Central Statistics Office – its highest rate in 22 years. The CSO said this marked an increase from 6.7% in March and was the largest annual increase in inflation since November 2000 when inflation also stood at 7%. The…

“Early.” This five letter word caused a slight ripple this week for those who read the tea leaves on the utterances of central bankers. Christine Lagarde, President of the European Central Bank, said in a speech in Slovenia that the bank’s purchases of bonds under its Asset Purchase Programme should conclude “early in the third…

Market rents in the first three months of the year were almost 12% higher than they were in the same period last year, according to the latest report from property website daft.ie. The average market rent between January and March stood at €1,567 per month, the report concludes, which was up almost 3% on the…