One51: Earnings guidance still stands despite prospects of tough second half

ONE51, the holding company with a 25% stake in renewable energy group, NTR, said the earnings guidance it gave the market in May still stands, despite the prospects of a tough second half.

Consolidation of the group’s activities, particularly its core environmental services division, has resulted in the loss of 150 jobs since October, with overall numbers reduced to 1,100.

Integration of the group’s core environmental services activities in Ireland resulted in the job losses, group founder and chief executive Philip Lynch, who has top Irish investors backing him, including beef tycoon Larry Goodman, told journalists after group’s well attended AGM in Dublin that the current environment was hostile to further acquisitors at present.