Author: Practicenet

The main Irish arm of breakfast cereal giant Kellogg last year paid zero corporation tax for the second year running as revenues topped €1.28bn. New accounts filed by Kellogg European Trading (KET) Ltd with the Companies Office show that it recorded a 27pc jump in operating profits, from €38.7m to €49.36m, in the 12 months […]

Law firm Eversheds has appointed former Central Bank official Ciaran Walker as a consultant. Mr Walker was deputy head of enforcement at the Central Bank of Ireland until September. He’s now joined Eversheds Consulting, a part of the solicitors’ firm that uses consultants, lawyers, audit and risk specialists to provide tailored consulting services to clients. […]

The weak sterling is playing havoc with Ryanair’s earnings as the airline has predicted its average fares to fall by between 13pc and 15pc. The Irish aviation giant has reduced its full-year profit estimate by 5pc to between €1.3bn and €1.35bn, meaning profits are set to grow by 7pc from 2015. Average fares were originally […]

There has been an explosion in the number of people renting as the housing crisis worsens. Some 850,000 people now live in rented accommodation. Most of the rise is accounted for by Dublin, where the number of households renting privately has risen by 61pc since 2011. This is one of the strongest rises in the […]

German supermarket chain Lidl is to add 100 new jobs at four new stores set to open over the coming months. Lidl is to open a second store in Swords next week with another in Glenageary slated to open in early December. A further two stores will be added in Carbra and Portmarnock, both of […]

Electronic payment company ACI Worldwide has opened a new state-of-the-art data centre in Limerick with the aim of expanding the firm’s capabilities in Europe. ACI boast a host of major clients, including two of Ireland’s biggest banks. The business built the new centre in record time as it looks to accommodate growing demand from Europe, […]

THE number of financially-stretched people applying for a State-sanctioned debt deals has doubled. But the actual number of deals put in place is down. New figures from the Insolvency Service of Ireland show that almost 900 people applied to put a formal arrangement in place with their lenders. The figures were for the three months […]

Larry Goodman’s ABP Food Group, the international meat, pet food and renewables business, has expanded its operations in Poland with the acquisition of a production facility in the east of the country. The facility, acquired from Polish processor Sklodowsky, will increase ABP’s production capacity in Poland to up to 250,000 cattle per year. The announcement […]

Samsung on Friday said it expected to take a hit to its operating profit of about $3bn over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone. The outlook brings to about $5.3bn the total losses the global smartphone leader has forecast as a result of the overheating issues, […]

Developers and estate agents have denied that hikes of up to €45,000 on house prices just hours after the Budget are linked to a grant scheme to help first time buyers. The Help-to-Buy scheme introduced by Finance Minister Michael Noonan on Wednesday offers a rebate on income tax paid in the previous four years, up […]