Shannon to stay shut, Central Bank profits slump, and JD Sports’ new Dublin facility

Business Today: the best news, analysis and comment from The Irish Times business desk

JD Sports has agreed the letting of a new logistics facility in Dublin to fulfil its online orders and minimise the disruptions to its business from Brexit. Photograph: iStock

JD Sports has agreed the letting of a new logistics facility in Dublin to fulfil its online orders and minimise the disruptions to its business from Brexit. Photograph: iStock

 

A potential row between Aer Lingus and an Oireachtas committee is threatening to derail a meeting today where the airline will rule out reversing the planned closure of its Shannon Airport base. Barry O’Halloran has the details.

Barry also reports that Ryanair is doubling capacity to 1.3 million seats a-week in Europe, but not expanding in the Republic, as further evidence of air travel’s recovery emerges.

The Central Bank of Ireland will today report that its profit slumped by 67 per cent last year, leading to its Exchequer dividend falling at the same rate, to €665.7 million, the lowest since the onset of the financial crisis, according to sources. The bank will reveal in its annual report that profit fell to €829.6 million last year from €2.56 billion in 2019. Joe Brennan has the details.

Naomi O’Learyreports that Ireland is expected to imminently receive a boost in Pfizer Covid-19 vaccine deliveries after the European Medicines Agency announced it had approved extra manufacturing and filling lines at the pharmaceutical company’s Belgian site.

Young people, people with disabilities, Travellers, and Eastern European migrants are at much higher risk of disadvantage around employment and have less access to decent work. Colin Gleeson examines a new employment report from the ESRI and IHREC .

Electric scooter sharing scheme provider Superpedestrian is weighing up plans to establish a European R&D centre of excellence in the Republic, reports Charlie Taylor. The company confirmed the move as it unveiled proposals to create up to 100 jobs as part of an initial €15 million investment here.

Nursing home group Carechoice has bought a 60-bedroom facility in Co Cork in a deal thought to be worth about €10 million. The company confirmed on Tuesday that it has bought Brookfield Care Centre, a 63-bedroom nursing home, bringing the number of facilities it has in the Republic’s biggest county to six. Barry O’Halloran has the details.

An email sent by an Irish architect worried that he might be killed during a visit to Kabul played a key role in a legal dispute over the ownership of $8 million sitting in a bank account in Guernsey. The email was sent against a backdrop where the architect, Jeremiah Ryan, had moved the money to Guernsey to hide it from his creditors as he prepared to enter bankruptcy. Colm Keena takes an in-depth look at the case.

JD Sports has agreed the letting of a new logistics facility in Dublin to fulfil its online orders and minimise the disruptions to its business from Brexit, reports Ronald Quinlan.The UK-headquartered sportswear retailer is to base its first dedicated Irish distribution centre in Rosemount Business Park in Dublin 15.

Ronald also reports that the EBS Building Society’s premises at No 2 Burlington Road is being offered to the market by way of assignment/flexible sub-lease with a head lease expiry date of 2027.

In other commercial property news, Bartra Capital is seeking €3.8 million for its Donegal Boardwalk Resort; Kingscroft is understood to have paid about €10 million for a ready-to-go residential development site in the Meath town of Ratoath; while Doosan Bobcat, the US engineering and construction machinery manufacturer, has committed to a new 10-year lease on premises at Swords Business Campus in north Dublin.

You can read all of the rest of today’s commercial property stories, here.

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