In short

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HP bucks trend with 38% profit rise

HP bucked the trend for technology companies with a 38 per cent increase in first quarter net profit to $2.1 billion (€1.42 billion).

The broad-based IT company that employs 4,000 people in Ireland said slowing sales in the US were boosted by international revenues particularly in the Asia/Pacific region.

HP raised its full-year revenue guidance to between $113.5 billion and $114.0 billion.

Strategy director for exchange

The Irish Stock Exchange (ISE) has appointed Aileen O'Donoghue, currently director of Financial Services Ireland, as director of ISE strategy, policy and communications, subject to regulatory approval.

Brian Healy, the current director of trading and regulation at the ISE, will become director of traded markets, development and operations. The current ISE head of debt listing, Gerard Scully, has been appointed director of international primary markets.

NCB to distribute Airtricity's €660m

NCB Stockbrokers will today receive €660 million for Airtricity shareholders, management and staff, in what is believed to be the biggest distribution from a non-quoted Irish company.

Utility Scottish and Southern Energy last week completed the purchase of the Irish wind energy company's European business. Last year it sold its American division to German energy giant, Eon.

The two deals netted a total of €1.87 billion for Airtricity's shareholders, who include staff, management and a large number of private investors who took part in fundraising rounds organised by NCB.

Investors who took part in the first round of fundraising, organised in 2002, will make eight times their investment as a result of the sale. Founder Eddie O'Connor, who left as chief executive at the beginning of the month, will receive €50 million.

Ex-AG appointed to board of PR firm

David Byrne, the former attorney general and European commissioner, has been appointed to the international advisory board of public relations firm Fleishman-Hillard.

Dublin Port trade increases by 5.7%

Dublin Port yesterday released figures for 2007, showing record trade volumes.

Total trade passing through the port rose 5.7 per cent last year to 30.9 million tonnes. Exports growth rose 8 per cent on 2006 with imports growing at a more sedate 4.5 per cent.

The company said it was working to increase capacity at Alexandra Quay.