Manor Farm profits up 60%, Sean Fitzpatrick’s funeral, and investor closes in on deal for Penneys distribution hub

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The company behind chicken processor Manor Farmmade a pre-tax profit of €17.8 million in 2020, up 61 per cent on the €11 million recorded the previous year. Laura Slattery reports that Carton Bros Unlimited saw its turnover rise almost 8 per cent to €200.9 million last year, up from €186.2 million in 2019. Its after-tax profit arrived at €15.4 million, up from €9.6 million, its latest accounts show.

Miriam Lord was among those at thefuneral of former Anglo Irish Bank chief Sean Fitzpatrick yesterday. He was a man who left a "lasting impression", she writes, saying the funeral was a typical sort of turnout with family, friends, sporting companions, work acquaintances, a fair few millionaires.

Irish-founded branded payment and rewards provider Imprint has raised $38 million (€33.4 million) in a funding round co-led by Stripe. This brings to $53 million the amount raised to date by the New York-headquartered company, which was only founded in August 2020. Well-known Silicon Valley venture capital firm Kleiner Perkins teamed up with Stripe to lead the Series A funding round. Charlie Taylor reports.

At least 100 new jobs are to be created in Kilkenny over the next two years by engineering and construction firm, Modubuild. The company, which provides specialist fast-track modular construction services, primarily for customers in the data centre and biopharma sectors, currently employs 400 people.

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In this week's Bottom Line column, Martin Sandhu writes that the EU's win against Google provides a reminder of its regulatory prowess and that the push from Brussels to regulate big tech making is in fact making headway, despite divisions.

Meanwhile, in Commercial Property, Ronald Quinlan reports that German investor Union Investment is closing in on the purchase of the new, state-of-the-art warehousing and distribution facility being developed by Penneys in Newbridge, Co Kildare. Union is understood to be in advanced negotiations to acquire the fast-fashion retail giant's logistics hub for about € 129 million.

A "shovel ready" site with potential to house one of Ireland's largest residential developments has come to the market seeking €50 million. The site in Clongriffin, north Dublin comes with full planning permission for 1,823 residential units, a 209-bedroom hotel, including 20 short-term let apartments, and 1,358 car parking spaces.

And finally, Fiona Reddan reports that Stillorgan institution Nimble Fingers is scaling up its ambitions with plans to redevelop its site across from the shopping centre in the south Dublin village.

You can read all the rest of today's Commercial Property news, here.

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Nora-Ide McAuliffe

Nora-Ide McAuliffe

Nora-Ide McAuliffe is a journalist with The Irish Times