ISEQ falls 6.92 today

The ISEQ index was down 6.92 on Thursday to 5081.14.

Shares in food group Greencore were down 3c to €3.30. Earlier, shareholders were told that the company recorded a 7% increase in pre-tax profit for 2003 but that raw materials costs were increasing fast.

Chairman Ned Sullivan told the company's annual general meeting that sales in the Group’s chilled food categories, its principal driver of growth, grew by 6.5% in the first three months to December 2003.

Earnings per share rose by 19%, while net debt was reduced by €133m.

Yesterday, the company heard that Geest - one of its main competitors in the UK saw one of its three plants at Tilbrook, Milton Keynes destroyed by fire.

The plant is accountable for 2% of Geest's turnover (€30m).

After a tough week, Ryanair had some good news at last.

Its stock rose 16c to €5.28 after over one million shares were traded earlier this morning.

FBD saw its stock rise 25c to €13.75.