In Short: British Airways increased its profits strongly last year and claimed top spot in the global aviation industry with the highest operating profits of any of the world's airlines.
Rod Eddington, BA chief executive who is due to retire in September and will be replaced by Willie Walsh, formerly chief executive of Aer Lingus, said the airline had increased its pre-tax profits by 80 per cent in the year to March from £230 million to £415 million, ahead of market expectations.
BA increased its operating profits by 33 per cent, triggering staff bonus payments for the first time since 1998.
It raised its operating profit margin from 5.4 per cent to 6.9 per cent but remained well below the target set by Mr Eddington of a 10 per cent margin through the trading cycle. - (Financial Times Service)
South-east set to get 600 jobs
Taoiseach Bertie Ahern announced the creation of more than 600 jobs in the south-east yesterday as part of government plans to boost employment in the area.
"The government have been working with the State agencies to ensure future employment growth in Wexford," said Mr Ahern during a one-day visit to the area. These jobs will "greatly improve on the environmental and economic infrastructure in Wexford and the south-east".
Weber heads securities group
Brian Weber, head of Morgan Stanley Quilter's Irish operation, has been appointed president of the Dublin Securities and Investment Institute.
Mr Weber said he was delighted to be chosen as president of "an institution that plays such an essential role within the investment industry".
The SII is a business lobby group specialising in training.
Allianz doubles profit in quarter
Germany's biggest insurer, Allianz, which employs 900 staff in the Republic, almost doubled its net profit in the first three months of the year, thanks to a strong performance across all of its businesses.
Booming demand for pensions fuelled a turnaround in Allianz's fund management arm and a jump of almost a third in life and health insurance profit. Its other businesses also prospered. Net profit from property and casualty insurance was up by more than a third.
Ireland.com most popular website
Ireland.com, the website owned by The Irish Times, remains the most popular news and information website in the Republic, according to new audited figures.
The site recorded more than 13 million page impressions in March, compared to its nearest rival, RTE.ie, which recorded 10.5 million page impressions. The figures were released yesterday by the Audit Bureau of Circulations.
General manager Una O'Hare said: "In the internet environment it can often be difficult to pin down exactly how we are performing. This audit leaves out the guessing game and establishes a precise figure for all to see".
SHS completes Merrydown deal
Northern Ireland-based SHS Group completed its £37.6 million acquisition of Merrydown, adding the company's namesake cider and Shloer sparkling fruit juices to its existing array of brands including alcoholic Irn Bru, tinned custard and prepacked herbs and spices.
