Anglo Irish forecast to return 24% profit rise

STELLAR stock market performer Anglos Irish Bank will announce a 24% increase in profits next week, NCB Stockbrokers forecast.

NCB analyst John Kelly said they are forecasting “clean” pre-tax profits and EPS of 344m and 73.5c respectively, an increase of 24%, when Anglo announce results for the 12-months ended September 30 2003 on Wednesday next.

Anglo shares have performed exceptionally well this year, rising from a 2003 closing low of 6.05 on February 15 last to a closing high of 10.45 on October 22. The shares have fallen back to about 10 in recent days.