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Roundup-Ryanair looks to issue Bonds

Friday, March 28 08:04:03

Shoppers at Ikea's Irish store in Dublin last year spent almost E2 million per week on home furnishings leading to the store almost doubling pretax profits to E5.8 million.

New accounts just filed by Ikea Ireland Ltd show that the firm increased its pretax profits by 96 per cent from E2.97 million to E5.8 million in the 12 months to the end of August 31st last.

Consumer spending on best-selling Ikea items such as Billy bookcases, Expedit storage units and Lack tables resulted in revenues at Ikea's Ballymun store last year increasing marginally from E102.6 million to E103.98 million. The 2013 performance represents a turnaround in terms of the store's profitability after the business saw a steady decline in pretax profits from E11.4 million in its first full year of operation in 2010 to E2.97 million in 2012.

The Dublin outlet - which is equivalent in space to 5 1/2 soccer pitches - contains 9,000 home furnishings, a 550-seater restaurant, a food hall and creche along with 1,850 car-parking spaces.

The Irish Times

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UK specialist coffee retailer Caffe Nero is planning to invest E20 million in Ireland over the next five years to open 40 stores and create up to 350 new jobs.Founder and majority shareholder Gerry Ford said that this was a show of "faith" in the Irish economic story and a strong signal of its long-term intentions for this market.

"We've been looking at Ireland for several years but we're only really now beginning to feel comfortable with our international expansion," he said. "We'll open about eight to 10 stores a year in Ireland."

The company will open a cafe in Boston next month, its first venture into the United States. This will bring to seven the number of countries where it has operations.He said Caffe Nero would offer a European-style coffee house experience in Ireland, serving top quality coffee, "fresh, deli-style food" and a relaxed atmosphere that would prove attractive to families, professionals and retired people.

The Irish Times

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Ryanair is likely to raise between E500m and E1bn in its first-ever bond issue, the airline's boss, Michael O'Leary has told the Irish Independent.The bond, which would be used to help finance the airline's current order for 175 aircraft, would be a major departure for Ryanair, which has not previously accessed capital markets on its own.

Last week, Ryanair received its first-ever corporate credit rating, from Standard and Poor's. It rated the airline BBB+, making it the highest-rated airline in the world.

Ryanair placed a 175-aircraft order with Boeing last year. It will increase the airline's fleet to more than 400 and enable it to achieve a target of carrying 110 million passengers by 2019, compared to the 81.5 million it carried last year.

The Irish Independent

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The daughter of an Irish construction magnate has announced her resignation from the helm of her late father's empire. But Caroline Murphy (31) wants to turn the company founded by her father, one of Britain's most successful building firms, into a workers' co-operative and has committed her 20pc share to this end.

John Murphy, who was from Loughmark, near Cahirsiveen in Co Kerry, emigrated to London in the 1930s when he was 15.

In a rags-to-riches tale, at the time of his death in May 2009, at the age of 95, he had amassed an estimated fortune of E230m.

The Irish Independent