Investec has issued a buy recommendation on Greencore with a price target of €1.67, a 25 per cent premium to its current level. Investec, a joint broker to Greencore, has adjusted its forecasts for full-year 2011, the first period without its malt division, which was sold recently.
Investec has adjusted downwards its pre-tax profit forecast from €50.5 million to €41 million with earnings per share falling from 19.5 cent to 15.6 cent. “We believe investors now have a window of opportunity to pick up a quality food play at an attractive price,” it said.
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Denis O’Brien’s online recruiter Saongroup.com is looking to hire 110 new staff to feed its international expansion. Recruitment is taking place both in Ireland and overseas.
Saongroup started in 1999 with just five employees but now has a presence in 19 markets and 830 staff. It is growing rapidly in China, India and South Africa.
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Irish rugby captain Brian O’Driscoll is rebranding himself, in a bid to connect with his fans, and no doubt the corporate sector. He will relaunch his website today and he’s also come up with a logo – 13OD – that merges his jersey number and the surname initials. The way the one and the three are merged on the logo, it also spells out BOD, Drico’s nickname. It’s like so creative, man.
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Some good news for Dublin stockbroker NCB this week. The ESN partnership, the European club of stockbrokers of which NCB is both the Irish and UK member, was ranked third best in relation to coverage of Eurofirst 300 companies. The research was carried out by Reuters subsidiary Starmine.
