ISEQ makes modest gains
The ISEQ index of Irish shares recovered from morning losses to close up 1.62 points at 6029.95.
Business support services company DCC saw a loss of 89c to €16.10. 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 1c to €2.29. 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.
ISEQ listed exploration company Providence has announced in its preliminary results for 2004 that profit after tax was €165,000, up from a net loss of €580,000 in 2003. Its share price remained unchanged at 4c.
The fortunes of financial stocks were mixed. AIB rose 4c to €16.14, while Bank of Ireland was up 2c to €12.07. Anglo Irish Bank fell 3c to €9.27 and Irish Life and Permanent was up 9c to €13.19.
