Other stories in brief
Glencar Mali drilling results 'encouraging'
Gold exploration firm Glencar Mining has described results from its fifth phase of drilling at the Komana West mine in Mali as "encouraging".
According to its drilling update, the firm is expecting to add further resource ounces to its Komana West deposit. More than 12,000 metres of drilling have been completed in the current phase.
ComReg contracts worth €712,846
In a report entitled "ComReg to pay advisers €2.8 million" in yesterday's editions it was stated that the communications regulator was awarding contracts to four consultants valued at €712,846 each. In fact the total value of the four contracts is €712,846 and not €2.8 million as reported.
Sales at Standard Life rise by 38%
Insurer Standard Life saw Irish sales increase by 38 per cent to £457 million (€614.8 million) in constant currency terms last year. The firm boosted worldwide life and pensions sales by 12 per cent, beating analysts' forecasts.
SAP generates profits of €1.94bn
German software maker SAP had revenues of €10.25 billion last year and generated a profit of €1.94 billion from continuing operations.
The firm, which acquired rival Business Objects last year, said its software and software-related service revenues will grow by 24-27 per cent this year. SAP employs 640 people at sales and support operations in Dublin and Galway.
Green Isle Hotel in Dublin sold
Clare businessman Michael Lynch has sold the 270-bedroom Green Isle Hotel at Newlands Cross in Dublin to Brian Brennan of Brennan Hotels for an undisclosed sum, leaving the Lynch hotel group with eight hotels in the west of Ireland. Brennan Hotels owns the Springhill Court Hotel in Kilkenny, Arklow Bay Hotel in Co Wicklow, Bettystown Court Hotel in Co Meath and Clonmel Park Hotel in Co Tipperary.
B of E governor is reappointed
Mervyn King yesterday accepted a second five-year term as governor of the Bank of England, ending months of speculation over his position after Britain was hit by the credit squeeze and the government had to bail out Northern Rock. - ( Financial Times service)
Friends First links up with Accbank
Friends First's lending business, Friends First Finance, has entered into a partnership with Accbank which will see its products distributed through the bank's branches.
The partnership will "substantially boost the fortunes of our finance company", Friends First chief executive Adrian Hegarty said yesterday.
Friends First Finance currently writes €500 million of business a year.
Receiver to Lions Hill appointed
Barclays Bank has appointed a receiver to Dublin company Lions Hill after the firm defaulted on a debt because of the difficulties in the credit markets.
C&C appoints managing director
Drinks group C&C has appointed John Holberry as managing director of its Magners GB business with effect from March 18th. The post has been created to spearhead a revival in C&C's fortunes in Britain, where sales of Magners cider flagged last year.
