Pre-tax profits at BoI up 8% to E1.27bn

BANK OF IRELAND met market expectations yesterday when it announced pre-tax profits of E1.27 billion last year, an 8% increase.

The market responded in kind by leaving the share price largely unchanged before gaining 1.5% in late trading.

Chief executive Michael Soden said the results were very strong and marked the 13th year in a row of increased profits. The core retail division brought in E419m in the 12 months to March 2004, 7% more than the previous year.