Business and Leadership Ltd.

Limerick Institute of Technology (LIT) has announced a significant stimulus for the Limerick and Mid-West region’s economy with the unveiling of its €200m+ ‘Campus 2030 Masterplan’. The Masterplan, launched by Minister Jan O’Sullivan at LIT’s Limerick School of Art & Design (LSAD) city centre campus today, is in response to growth across LIT discipline areas such as art and design, engineering and humanities. It also reflects the expansion in LIT’s Enterprise Centres and the applied research capabilities, which were not part of the original masterplans when the campuses were developed during the late 1990s. The investment will see an additional 50,000sq metres of facilities of new facilities as well as extensive refurbishment…

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Business and Leadership Ltd.

Paddy Power has reported a 21pc increase in pre-tax profits to €68.7m for the first half of the year, despite what it said were some adverse sports results since its May trading update. The company said net revenue grew by 29pc to €311m in constant currency, with double-digit growth in every division. The total amount staked by customers was €2,741m during the period. And it noted that four new online ventures had been established with start-up losses of €6.3m in the period. In online, Paddy Power said there was accelerated growth in scale, new customers and new business investment. Online customer acquisition was up 50pc, active customers increased 41pc to…

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Business and Leadership Ltd.

The Burlington Hotel in Dublin 4 is on the market with a guide price of between €65m and €75m. The 4 star hotel, which has 501 bedrooms and extensive conferencing facilities on 3.9 acres of land, is being sold through CBRE Hotels on behalf of receiver Paul McCann of Grant Thornton. In 2007, property developer Bernard McNamara bought the hotel for €288m. McNamara had planned to demolish the building in favour of a new office and commercial development. According to CBRE Hotels, the Burlington is by far Dublin’s largest hotel and the “sale represents a rare and unique opportunity to acquire a substantial unbranded freehold property in the heart of…

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Liam FitzGerald

United Drug has this morning announced two US acquisitions for a total consideration of up US$40m. The Irish-headquartered healthcare services provider has reached agreement to by Drug Safety Alliance, which provides safety and risk management services relating to the detection, assessment, analysis and reporting of adverse drug reactions, for up to US$28m. Of this, US$21m will paid on completion, while up to US$7m will be paid after three years based on reaching agreed profit targets. DSA is based in North Carolina and employs 94 people. United Drug said DSA is complementary to its US medical information business, Alliance, and will allow it to offer clients an integrated call centre and…

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airport departure

Half of Irish consumers in a survey booked a holiday this year, spending on average €927, with those traveling abroad spending more, according to the latest KBC Savings Barometer. According to AAACreditGuide, if you are looking for loans, especially in the areas of auto loans , there are many aspects of the process you must know and understand to get the best terms and rates available to you, regardless of where you live or where you work. Those holidaying outside of Ireland spend on average €1,016 compared to those who opt for a ‘staycation,’ who pay in the region of €785. Unlike during the Celtic Tiger years, consumers are now saving for…

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Business and Leadership Ltd.

Ardagh Group has announced that it has received US regulatory approval and completed the acquisition of the US-based Anchor Glass Container Corporation from private investment funds managed by Wayzata Investment Partners LLC. The transaction involved a total cash consideration of US$880m (€721m). Anchor, which is headquartered in Tampa, Florida, is a technologically advanced manufacturer of glass containers serving the North American food and beverage industries. It is the third largest glass container manufacturer in the US, producing approximately 5.6 billion containers annually from its eight facilities and employing approximately 2,700 people. Anchor has annual revenues of around US$800m (€656m). Ardagh Group is a global leader in rigid packaging, producing metal…

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Boston Scientific headquarters in Massachusetts in the US

As part of its 2011 global restructuring plan, Boston Scientific is cutting 50 jobs from its Galway operations. The medical device company employs 2,500 at the Galway facility, which is the largest of its three sites Ireland. In a statement Boston Scientific said that the cuts were made to align its workforce and operations with the company’s global initiative to operate more cost effectively. “Boston Scientific will offer affected Galway employees a comprehensive support programme. Boston Scientific remains committed to supporting its employees through this transition,” it added. Last year the company announced it was seeking to cut up 1,400 jobs worldwide in a restructuring programme aimed at saving between…

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Pictured: Cork Airport © DAA

Ryanair has announced five new routes from Cork to Gdansk, Krakow, Warsaw, Wroclaw and Vilnius, which will operate from November 2012. The airline said its winter 2012 schedule from Cork Airport now increases to two based aircraft and 10 routes, which will deliver over 850,000 passengers each year. It said that this would sustain over 800 on-site jobs at the airport, based on ASI figures estimating that 1 million passengers maintain 1,000 jobs. Flights for the five new routes go on sale on Ryanair’s website from tomorrow and the airline said it is offering special prices until midnight on Monday (6 August). Grainne Rothery

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CPA Ireland awards funding

Tax revenues for the first seven months of the year were €20,313m, €500m (2.5pc) ahead of target, according to the latest Exchequer return figures. At the end of July taxes were €1.68bn (9pc) ahead of the same period last year. Adjusting for the impact of delayed corporation tax receipts from December 2011 and a reclassification of PRSI to income tax this year, taxes grew by around 6.5pc in the year to end-July. Income tax was €159m (2.0pc) ahead cumulatively and is over 11pc up on the same period last year on an adjusted basis. VAT receipts in the month of July were €58m (4.3pc) ahead of target and €87m (1.3pc)…

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The Smart Accessibility Awards 2012, a competition worth €200,000 that calls for developers from across Europe to design smartphone apps which take into consideration the needs of older people and people with disabilities, was launched today by the Vodafone Foundation and its partners. To encourage Irish interest in this international competition for new apps, the National Digital Research Centre (NDRA) has linked with Vodafone and its partners – the NCBI, IIA and mobile open community group Mobile Monday – and will be hosting a two-day workshop at NDRC’s HQ on Crane Street on the 21 and 22 August. These leading Irish interests from the digital research, internet and mobile community have joined…

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