Rapid Technology revenues down

Rapid Technology posted a 27% slip in revenues yesterday to 1.24 million for the six months to end of December.

It said the overall order book remained level year-on-year with the weakening dollar and a shipment delay accounting for the revenue decline. Gross margins improved to 34% from 29% and net operating expenses reduced by 23% to 934,000.

The operating loss expanded 7.5% to 743,907 including a 229,000 exceptional item booked for redundancies as part of the planned restructuring.

An emergency general meeting will be held on Monday to outline the changes in detail and seek shareholder approval.

O2 poised for growth in earnings

Dublin: Mobile phone operator O2 said yesterday its Irish business would report further earnings growth in the next six months according to a pre-close trading statement issued by its parent MMO2.

Overall, O2 said it would be meeting consensus estimates on earnings at stg£838 million. It said the range of recent analysts' full-year forecasts was £804 million to £892 million.

In Britain, MMO2 said it expected to deliver service revenue growth in the mid-teens, and report full-year service revenue growth above the 10% target established at the beginning of the year.

Central Bank’s Wells warning

Dublin: The Central Bank warned yesterday that Wells International Investments Limited was not authorised to provide investment service or investment advice in Ireland.

Any person with information on the firm or queries about another investment company can call the Central Bank’s enquiry line at locall 1890 200469.

ICT Expo goes ahead at RDS

Dublin: The ICT expo where than 120 participants will demonstrate the latest developments in the world of IT, telecoms and the internet takes place in the RDS in Dublin for three days next week.

ICT Expo will also host educational and application specific seminars over three days and will feature an Irish Computer Society Skills conference.

Fall in industrial production

Dublin: Irish industrial production fell a seasonally adjusted 3.4% in the three months to January, compared with the previous three months.