Four companies shortlisted for Irish Times Company of the Year award

Four companies have been shortlisted for The Irish Times Company of the Year award, as part of the fifth Irish Times Business Awards, which are being run in association with Bank of Ireland.

The shortlisted companies are building materials giant CRH, airline Ryanair, hotel company Dalata and drinks group Irish Distillers.

In November, CRH said it was sticking to its $5.5 billion (€5.36bn) full-year earnings forecast, even as its Europe Materials division had weakened as it grappled with higher energy prices and euro weakness against the dollar. CRH also recently announced plans to extend its share buyback programme (it has amounted to more than $4 billion since 2018), having increased its interim dividend earlier this year.

Ryanair has rebounded strongly following two years of Covid-19 restrictions on air travel. The airline, led by Michael O’Leary, posted a record interim profit of €1.37 billion for the six months to the end of September. It also increased its forecast for passenger numbers for the year and brought forward full pre-Covid pay restoration for employees on the back of its strong trading performance.

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Hotel group Dalata bounced back strongly from lockdown restrictions. In mid-December the owner of the Clayton and Maldron brands said its revenue would exceed €500 million in the year ended December 31st, 2022 – the first time it has hit that milestone. Like-for-like group revenue per average room was up 21 per cent compared to 2019 levels in the period covering September-November 2022.

At Irish Distillers, it has been another year of strong growth for Jameson Irish whiskey. A record 10.4 million cases of Jameson Irish whiskey were sold in the 12 months to the end of June, up 22 per cent on the previous year. Irish Distillers also announced a €250 million investment in a new distillery on a 55-acre site adjacent to its existing facility in Midleton, Co Cork to produce pot still and grain whiskey.

The winner of Company of the Year will be announced at a gala event in the Round Room at the Mansion House, Dublin on February 2nd, when the winner of the Businessperson of the Year will also be revealed. Both awards are sponsored by Bank of Ireland. Uniphar won the Company of the Year title for 2021.

There will also be awards for Deal of the Year and Local Enterprise of the Year, along with a Distinguished Leader in Business award.