Anglo Irish profits soar on loans jump

ANGLO IRISH BANK delivered another set of knockout results yesterday as pre-tax profits soared 36% to a record €685 million.

The performance for the 12 months to September followed a 45% increase in profits the previous year and marked a seamless handover to chief executive David Drumm, who took over from Sean FitzPatrick when he became chairman last January.

The markets rewarded the news with a further 6% increase in the bank's share price, which teetered just short of record highs at €11.58 yesterday.