Today's other stories in brief
First Derivatives rise by 86%
First Derivatives, the Newry-based provider of technology services, reported an 86 per cent rise in pretax profits yesterday to £4.7 million (€5.9 million).
The company supplies technology packages to more than 40 investment banks and hedge funds.
It said turnover in the year ending February 29th was up 36 per cent at £12.7 million and reported earnings per share of 23.3p, a rise of 56 per cent. It will pay a final dividend of 5.8 pence a share, bringing the total to 8.1 pence for the year.
Despite the turmoil in the credit markets, 2007 saw strong demand from capital markets for its products, the company said.
Over the period the number of employees rose from 89 to 118, the company said. First Derivatives listed on Dublin's IEX market last year.
Petroceltic's deal in Algeria
Petroceltic International, an Irish oil and gas explorer, won approval for its Isarene permit in Algeria to enter the next two-year exploration phase and said initial results are "encouraging".
The explorer's Ksar Hadada permit in Tunisia was also renewed for three years, and seismic data show "a number of exploration prospects", the Dublin-based company said today in a statement.
"These agreements secure these permits for Petroceltic and its partners in both Algeria and Tunisia for the coming years," chief executive office John Craven said in the statement. "We look forward to an exciting programme of drilling over the next 12 months." - (Bloomberg)
Jobless rate rises in North
The number of people out of work in Northern Ireland rose by 3,000 in the first quarter of 2008 to an estimated 38,000, according to latest government figures.
Latest labour market statistics for the North show the unemployment rate rose to 4.6 per cent for the period. The number of people claiming unemployment-related benefits in April rose by 400 on the previous month to 24,500.
Although the unemployment rate is continuing to rise in the North, it remains lower than the UK average rate of 5.2 per cent and the Republic's rate of 4.9 per cent recorded in February.
The latest research shows that more than 33 per cent of people have been unemployed for one year or more.
