ONE MORE THING:IRISH BOXER Katie Taylor's gold medal win yesterday has cost Bank of Ireland several million euros in higher deposit rates as the bank had offered customers the chance of an additional 0.5 per cent on its rate for fixed- term "Gold" accounts in June. Fewer than 100 customers availed of the deposit product.
The bank offered a 3 per cent fixed rate for one year but promised to increase that to 3.5 per cent if Ireland won a gold medal in the London Olympics. Lodgements of up to €1 million were accepted in the offer.
“We congratulate Katie Taylor on her magnificent achievement,” said a spokesman for the bank. “The product was priced for a win as we had every confidence she would bring home a gold medal.”
SIGNS AREgood for Paddy Power's interims on August 29th, or at least for its Australian venture. Tabcorp, one of its rivals down under, reported results for the 12 months ended June 30th showing revenue was up 41 per cent. The news came after Sportingbet also showed a strong performance in Australia.
Paddy Power is the biggest online player in Australia through its Sportsbet subsidiary.
ANOTHER YEAR, another set of stellar interims from Kerry Group. The food company reported a 10 per cent increase in revenue to €2.9 billion for the first half of 2012. Growth continued to be driven by the ingredients and flavours business, which represents 70 per cent of sales. So should Kerry consider exiting consumer foods? Not on your nelly, according to chief executive Stan McCarthy. It remains "very committed to this business", he says, not least because it is strongly cash-generative and gives a very good return on investment.
He adds: “You’ve got to be committed in good times and in bad.” That’s loyalty for you.
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