PROFITS at mixed concrete maker Readymix fell by almost 50% as intense competition in the company’s core sector intensified in 2004, despite the ongoing building boom.

PROFITS at would be Aer Lingus suitor Irish Continental Group fell in the first six months of the year, but the ferry company is looking forward to the rest of the year with “confidence”.

SHARES in builders providers Grafton Group Plc rose by more than 5% yesterday after the company said profits for the first six months of the year would be “materially ahead of market expectations”.

HEITON’S up-beat trading statement has prompted Davy, Merrion and NCB stockbrokers to push up their earnings per share (EPS) forecast for the current year.

THE strength of the euro hit profits at building supplies manufacturer Kingspan to the tune of €2 million in 2003 but the company still managed to increase pre-tax profits by 3% to €65.4m.

SEA ferry company Irish Continental Group would like to buy Aer Lingus from the Irish Government and say they have the financial clout to close the deal.

THE proposed takeover of Barlo looked increasingly uncertain yesterday as news emerged that controversial financier Dermot Desmond had raised his stake in the plastics and radiator company to 7.7%.

SHAREHOLDERS in plastics and radiator group Barlo should not feel compelled to accept management’s buy out offer, according to Merrion Stockbrokers who argue the price on offer undervalues the group.

DESPITE the massive fall in the price of Ryanair shares, which has seen the value of the airline fall by hundreds of millions of euro, no Irish stockbroker is advising clients to sell the stock.

RYANAIR will appeal yesterday’s decision by the French Court of Appeal in Nancy that upheld a ruling that the airline was in receipt of State aid supporting its London-Strasbourg route.

RYANAIR has up to 20 “sweetheart deals” with publicly owned airports across Europe, similar to the deal which has been ruled illegal by a French Court.

BUILDING supplies company Grafton’s better that expected 32% surge in pre-tax profits is forcing stockbroking analysts to increase full-year forecasts for the company by anything up to 10%.

RYANAIR has denied it is using a little-known, Isle of Man-based company as a vehicle to circumvent an EU ban on regional and State aid.

RYANAIR shares are underperforming in the market because there are concerns that its price war with rivals is holding back earnings.

CONSTRUCTION and building materials provider Grafton Group’s shares raced ahead yesterday after the company said it expected profits to exceed stockbroker forecasts.

RYANAIR’S rapid expansion in the German market may be curtailed by a proposal to introduce 16% VAT on ticket sales for flights.

HOUSE builder McInerney Holdings built 1,186 houses in 2002, up 63% on completions in Ireland and Spain in the previous 12 months, the company said in a trading statement yesterday.

RYANAIR swooped yesterday to pick up rival low-cost carrier Buzz for just €5m from KLM, while simultaneously ordering 100 new Boeing jets boosting its fleet to 250 aircraft within eight years.

CRH could face a multi-million euro clean-up bill and severe damage to its reputation if it transpires the company has responsibility for a massive illegal dump on its lands.

KINGSPAN has cancelled its current share buy-back programme which has cost the company €7.9 million and resulted in a loss of €2.17m as share values have fallen by 27.5%.

THE tardiness of CRH in disclosing potential exposure to asbestos litigation cost shareholders over €1 billion as the share price plunged yesterday when the company finally went public on the problem.

RYANAIR profits are expected to jump by more than 42% when the low cost carrier announced first quarter returns next Tuesday.