In Short

Price of second-hand homes up 5.4%A survey of Dublin house prices by estate agent Douglas Newman Good shows the average price of a second-hand home in the city reached €424,000 in the first half of the year.

Half of all second-hand homes in Dublin were purchased by first-time buyers. The figures relate to the second quarter of 2005 with the increases in the cost of homes ahead of predictions at the start of the year.

The price of a second-hand home rose by 5.4 per cent during the period, bringing the increase for the year to 10 per cent. "Demand at the upper levels of the market remained high and continued to outstrip supply, particularly for period properties in Dublin 4, Dublin 6 and Dublin 9," said Douglas Newman Good.

Exports rise by 10% in 2004

The total volume of exports across all sectors was up by almost 10 per cent in 2004, according to new figures from the Irish Exporter's Association.

However, the organisation said the volume of imports was much larger and this highlighted the need to improve seaport and airport capacity. The organisation also said there was an urgent need to use rail connections so there was less strain on the road network.

An analysis by the group also highlighted the importance of direct air freight connections to the US. It said 67 per cent of air freight exports now went to the US and 48 per cent was coming from there.

Changes afoot for Icon executives

The Irish clinical test company Icon appointed its current chief financial officer, Sean Leech, to the position of executive vice president of commercial and organisational development yesterday.

His current position will be taken by Ciaran Murray, who will join Icon on October 3rd, 2005. Mr Murray was previously chief financial officer of Codec Systems Limited, an technology company headquartered in Ireland.

Icon fiscal growth slipped in 2005 when the firm cancelled several drug trials. It said recently that its sales should recover next year.

Horizon profits after tax hit €5.7m

Horizon Technology Group announced profits after tax of €5.7 million for the year to the end of December 2004 yesterday under IFRS accounting rules.

The company, which is listed on the London Stock Exchange, reported earnings per share of 7.97 cents and turnover of €281.1 million for the same period.

These results, compiled under the new IFRS accounting rules, compare to an after-tax profit of €4.25 million and earnings per share of 5.9 cents under standard Irish GAAP accounting rules.

Turnover was the same under both accounting standards.

Clothing, shoe prices falling

The price of shoes and clothing is not going up in the Republic, despite the claims of some commentators, the Fashion and Footwear Federation said yesterday.

The organisation said the notion that fashion retailers were enjoying large profits margins at the expense of Irish consumers was not true. According to the consumer price index, the price of clothing and shoes has actually fallen in the past five years, it said.

Chief executive Jim Whelan said the Competitiveness Council noted in 2003 that Ireland was cheaper than every other euro-zone country for clothing and footwear.