Business diary: Kingspan, INM and Paddy Power results due
International Business Women’s Conference takes place in Tralee
GameStop is due to report results on Thursday.
The second annual Enterprise Ireland International Business Women’s Conference kicks off in Tralee on Monday, in conjunction with the Rose of Tralee festival.
The conference will bring together leaders from across the business and entrepreneurial spectrum to celebrate the achievements and success stories .
Speakers include Cool Beans co-founder Sarah O’Connor, Rose of Tralee Elysha Brennan, Survival Russian CEO Anastasia Volkova, head of business banking at AIB Catherine Moroney, Enterprise Ireland chief executive Julie Sinnamon, Rose of Tralee social media manager Rebecca Kemp, entrepreneur and angel investor Mary McKenna and Eleanor McEvoy, a Dragon and chief executive of Budget Energy.
Under the theme ‘The Changing Face of Success’ the speakers will share their experiences and insights on topics such as leadership, linking the digital age and entrepreneurship.
Ms Sinnamon said the conference aims to inform and inspire women to embrace business opportunities, leverage the Irish global network and reach their full potential.
“Enterprise Ireland recognises the huge contribution of Irish women in business. Last year we invested in a record number of female-led start-up companies and we are determined to increase this number,” she said.
Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor said promoting the achievements of women actively encourages others to aim high.
“Creating the environment for more startups to develop and grow is a key priority for me and female entrepreneurs can play a major role in job creation,” she said.
Results: Kingspan; Wireless Group.
Meetings: International Business Women’s Conference (Brandon Hotel, Tralee).
Indicators: US Chicago Fed national activity index (Jul).
Results: Best Buy; Hostelworld; Persimmon.
Meetings: Ormonde Mining AGM (Crowne Plaza Hotel, Blanchardstown, Dublin 15).
Indicators: US new home sales (Jul); US Richmond Fed manufacturing index (Aug).
Paddy Power Betfair will report its first set of interim results as a merged entity on Wednesday.
The bookmaker and betting exchange merged in early February to create one of the world’s biggest gambling businesses, with turnover of about €2 billion and a stock market value of €10 billion.
One of the deal’s aims was to deliver savings of £50 million (€62 million) a year, part of which will come from cutting 650 jobs from the overall group’s workforce of 7,200.
Davy Stockbrokers said the results announcement this week will be closely watched, not least because investors will be looking for more specifics around future strategy, an update on achievable synergies, and comfort that business momentum has not been unduly impacted by integration work and management changes.
Davy is predicting a first-half Ebitda forecast of £179.5 million, representing growth of 30 per cent year-on-year on the back of revenue growth of 16 per cent.
“We see good scope for Paddy Power Betfair to achieve market share gains and positive operational gearing in the coming years, and believe that this can be achieved while developing technology that will allow the group to become more flexible and self-sufficient over time,” Davy analyst David Jennings said.
Results: Paddy Power Betfair; Glencore; Heico; Royal Bank of Canada; Workday; WPP.
Indicators: US house price index (Jun); US MBA mortgage applications (Aug 19th); German GDP growth rate (Q2).
Indicators: German import prices (Jul); German Ifo business climate (Aug); US initial jobless claims (Aug 20th); US durable goods orders (Jul).
Results: Independent News & Media; One51; Prada.
Meetings: Federal Reserve Bank of Kansas City economic policy symposium (Jackson Hole, Wyoming).
Indicators: UK Nationwide housing prices (Aug); US Michigan consumer sentiment final (Aug); Japanese inflation rate (Jul); German retail sales (Jul).