In Short

A round-up of today's other stories in brief

Kilkenny hospital back in profit but parent group still a concern

Kilkenny’s Aut Even private hospital has returned to profit, according to accounts filed last week. However, independent auditors PricewaterhouseCoopers (PwC) points to issues in the hospital’s parent group – Mount Carmel Medical – that may affect its decision to prepare the company’s results on a “going concern” basis.

It notes that “the validity of this depends on the continued support of the parent group for the foreseeable future as well as the ongoing support of the company’s bankers”.

PwC notes the parent group “defaulted on certain of its bank facilities” in 2009 and that all of its borrowings had been transferred to the national Asset Management Agency.

However, PwC stresses it is not qualifying the accounts, despite its emphasis of matter. The accounts, which are for 2009, show Aut Even recorded a pretax profit of €290,954 compared to a loss of €1.74 million in 2008.

Directors said revenue had risen 32 per cent in the year to €21.87 million, outstripping the 23 per cent rise in operating costs to €20.5 million. Aut Even is the first of the hospitals in Jerry Conlan’s Mount Carmel group to file 2009 figures.

German investor sentiment surges

German investor sentiment surged this month as expectations increased that its powerful export machine will create new jobs and investments this year to spur further robust growth.

The Mannheim-based ZEW think tank said its monthly index jumped to 15.4 points from a reading of 4.3 in December, its highest level since last July.

"The German economy is cruising along safely," said ING Financial Markets economist Carsten Brzeski. "It looks as if there is almost blind trust in the strength of the German recovery." – (Reuters)

Nando's to open Cork restaurant

Restaurant chain Nando's is to create 28 jobs in Cork with the opening of its latest restaurant, writes Ciara O'Brien.

The group already has four restaurants throughout Ireland, employing 155 people.

The restaurant will be located on Mahon Link Road and joins existing outlets in Dundrum, Swords and Belfast. The chain plans to open additional restaurants in Ireland this year, including two located in Dublin city centre.

Nando's was founded in 1987 in South Africa.