ISEQ down in morning trade
The ISEQ index of Irish shares fell 12.55 points to 6015.78 in morning trade today.
Business support services company DCC saw a loss of 64c to €16.35. DCC announced today that before-tax profits were up 8.5% to €126m in the year to the end of March 2004. Sales rose by 24.3% to €2.7bn, while operating profit was up 8.8% to €131.5m. Dividend per share will be 37.26c.
Shares in fruit distribution company Fyffes fell by 2c to €2.28. The two companies are locked in a legal battle after Fyffes initiated an insider dealing case against DCC in relation to the sale by DCC in February 2000 of 10% of Fyffes for €108m. The shares later collapsed from €4 to €1 over a period of months.
DCC insisted today that none of its executives were in possession of price-sensitive information.
The fortunes of financial stocks were mixed. AIB rose 5c to €16.15, while Bank of Ireland was up 6c to €12.11. Anglo Irish Bank fell 2c to €9.28 and Irish Life and Permanent was down 10c to €13.
