Friday, September 27 08:13:17
British-listed retailer Poundland is planning to open an additional 11 Dealz discount stores in Ireland over the next 15 months. Chief executive Jim McCarthy said yesterday that this would create 250 to 300 new jobs at the company and involve an investment of about E1.75 million, bringing to 41 the number of Dealz shops the company has opened here since its launch in Blanchardstown and Portlaoise in September 2011.
It employs 750 staff in the Republic and has invested E8.3 million in its store network to date. Of the new stores, Mr McCarthy said the "majority" would be outside Dublin.
He said the company is generating E50 million in annual revenues and sees continued growth opportunities here for some time to come. "We think we can do more stores than that and we have a few years of growth left in Ireland," he said, adding that the company is attracting 250,000 shoppers to its stores here every week. The Irish Times
The National Asset Management Agency expects to be left with a "rump" of E900 million of assets and land that it will not be able to shift by its target wind-down date in 2020. This is from a total portfolio of nearly E32 billion of loans purchased three years ago.
Nama chief executive Brendan McDonagh told the Committee of Public Accounts yesterday that this would be mostly land "outside the commuter belts" in Ireland with little or no commercial value. He suggested that it would be more appropriate to give these assets to the Office of Public Works or another state agency rather than retaining Nama to manage them out.
Nama has sold about E1.2 billion of assets in Ireland and has E12 billion left on its books, in addition to about E9 billion overseas. It has achieved E9.2 billion in disposals - 80 per cent in the UK - and generated income of E4.5 billion, mostly from property rentals. The Irish Times
Eircom has announced a drop in revenues and earnings for the year end June 2013 but the figures also showed signs of stabilisation in its broadband business. In a week when the firm announced the rollout of its 4G service, it said revenues were down 8pc to just under E1.4bn while earnings were off by 12pc to E487m.
Eircom had had 451,000 retail broadband customers in the year end, a 1pc decrease on its retail broadband customer base since June 2012. The Irish Independent
Bloodstock sales firm Goffs last year recorded a seven-fold increase in pre-tax profits to E755,000 after ring revenues topped E102m. Boosted by sales of E27m over two days at the annual flagship Orby thoroughbred yearling sale last October, Goffs recorded "a significant turnaround in its performance" in the 12 months to March, according to chairwoman Eimear Mulhern.
"We have seen an increase in turnover and profitability, further improvement in the debtor book and continued stabilisation in costs," Ms Mulhern said. The Irish Independent