The new UTV Ireland television station generated a loss of £7.5m (€10.2m) in the first half of this year; representing approximately 65% of the venture’s anticipated losses for the full year.

Specialist technology firm First Derivatives has acquired Canadian company Affinity Systems, for a maximum consideration of Can$14.5m (€10.6m).

Paddy Power has, as expected, promoted from within to succeed outgoing chief executive, Patrick Kennedy.

The economic recovery has so far failed to generate a positive bounce in the fortunes of Ladbrokes here, with increased competition in the betting market contributing to a 60% annualised drop in its Irish profits in the first half of the year.

Betting and gaming giant Ladbrokes said its pending store closure plan will not affect its Irish operations, adding that its plans here surround consolidation.

Paddy Power’s share price dropped yesterday following a positive set of results, with traders blaming the dip on profit taking.

Pre-tax profit at capital markets service provider First Derivatives increased by 7% to £6.9m (€8.6m) for the 12 months ending Feb 29.

Conor Foley has stood down as chief executive of international spread-betting firm Worldspreads with immediate effect and has resigned from the board of the company he co-founded 12 years ago.

THROUGH the decades there have been outstanding hurlers and outstanding teams in Charleville but success and titles remained elusive for many years.

THEY’RE not done yet – a little matter of a Munster club JHC final on December 11 still to come – but already it has been a season to remember for Charleville.

IT WAS a memorable afternoon for Charleville yesterday as they qualified for their first ever Munster JHC club final. They will face Limerick champions Cappamore after eventually wearing down Tipperary’s Rockwell Rovers who were in contention up to the three-quarter mark.

FOR 40 minutes of this excellent final at Buttevant yesterday, a shock result looked on the cards as unfancied Kildorrery led favourites Charleville by a point.

PADDY Power will grow its British online betting business faster than competitors in an expanding market, chief executive Patrick Kennedy has claimed.

UTV, which owns Cork’s 96FM, saw revenue at its Irish radio division fall 4% in the first six months of the year to £11 million (€12.4m).

FIRST-HALF operating profit at Ladbrokes’ Irish operations fell by 33.3%, on a year-on-year basis, to £3.8 million (€4.4m) as well-backed Irish horses cleaned up at high-profile meets like Cheltenham and Royal Ascot, the company said yesterday.

IRISH and British bookmakers put a tough Cheltenham Festival behind them with last weekend’s sporting events — most notably the Grand National — going in their favour.

THE largest number of winning favourites for almost a decade at the Cheltenham Festival has hit bookmakers hard, with the industry taking an estimated hit of somewhere between €4 million and €10m.

PADDY POWER, Ireland’s largest bookmaker, fell the most in almost three months in Dublin trading, after figures showed the Irish horse racing industry shrank in 2008 for the first time in 15 years.

THE first month of summer brought little sunshine for drinks group C&C which saw sales of Magners cider at British pubs and restaurants slump 23% in May.

TONY O’REILLY has failed for a fourth time in his bid to take Australian media company APN News and Media private in a move which would have delivered a 375 million boost for Independent News and Media Plc’s (IN&M) coffers.

UNIDARE restarted dividend payments to shareholders yesterday, after the distribution and manufacturing group doubled its pre-tax profits to €9 million for the 12 months to September.