An engineering solutions business headquartered in Clonmel, Co Tipperary, has posted half-year profits before tax of €40.8m.

Oil prices soared to a new high today as spiralling tensions on the border between Turkey and northern Iraq added to concerns over winter supplies.

Oil companies surged on consolidation hopes today after explorer Burren Energy said it had shunned “a number” of approaches worth up to £1.54bn (€2.2bn).