Prize Bond Company announces encouraging sales figures

The Prize Bond company’s has announced gross sales for 2004 of more than €126m in its annual report.

This is the second highest sales figure ever achieved by the company.

Also the total amount invested in Prize Bonds reached €500m in 2004.

The fund value at the end 2004 was €506.4m, an increase of over 11% on 2003.

Commenting on the results, Michael O’Keeffe, Chairman of the company, said: "The financial results show that Prize Bonds are regarded as an attractive, risk-free investment by many Irish investors, whether they are small or large scale purchasers.

"While Prize Bonds have been in existence since 1957, the net amount invested in Prize Bonds has almost doubled since the start of the new millennium.

"With greater awareness of the product and with low interest rates in the savings market generally, I expect this strong growth to continue."