MICROSOFT CUT IRISH TAX RATE TO 10% - The Irish Independent says Microsoft Ireland continues to be the most profitable company in the State, with new figures revealing that it made a pre-tax profit of almost €2.4 billion last year.
The paper quotes accounts recently filed in the Companies Office as showing that Microsoft Ireland Operations Ltd increased sales by €225m last year. Turnover for the year to June 2005 was €8.3 billion, giving the company a gross profit of over €7.8 billion.
The Indo says the company had a tax bill in Ireland of €237m for the year, which was down slightly on the previous year. Using manufacturing tax relief and adjustments from previous tax years, the software giant reduced its corporation tax rate from the standard rate of 12.5% to 9.9%.
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DES KELLY ROLLS OUT FLAT PROFITS - The Irish Times says profits were flat last year at home furnishing group Des Kelly Carpets, despite a near 12% increase in sales.
The paper quotes recently filed accounts for Des Kelly Carpets Ltd as showing that sales grew to €8m from €7.2m in the 12 months to April 30 2005. Operating profits for the year came in at €1.2m, as against €1.25m in 2004.
Des Kelly Carpets' 2004 bottom line was boosted by a sale of assets, which earned the company €1.38m. This lifted profits before tax to €2.35m that year. Its pre-tax surplus in 2005 came to €909,000.
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ROAMING MOVES 'WATERED DOWN' CLAIM - The Financial Times says contentious EU proposals to cut the 'roaming' costs to Europeans of using their mobile phones abroad were watered down on Monday night in the face of industry and political opposition.
In what the FT calls a partial climbdown by Viviane Reding, telecoms commissioner, mobile companies will continue to be able to charge customers to receive calls in other EU countries, although the prices will be regulated.
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SPORTSMAN SHAREHOLDERS MUST STAKE CASH ON SURVIVAL - The Times reports that The Sportsman, Britain's first national daily newspaper to launch for two decades, is trying to raise between £3m and £4m to ensure that it stays in business.
The paper says the sports and betting newspaper has burned through the bulk of £11.5m in start-up financing, as sales in its first four months have been well below expectations.
In May The Sportsman's daily sale was 12,762. The newspaper had previously indicated that it needed to sell 40,000 to break even. One shareholder said that he believed that the publication had enough money to last 'until quarter four'.
