Bookmaker Paddy Power has reported profit before tax for the six months to end June of €77 million, a 22% increase on last year.
Diluted earnings per share are up 13% to 137 cent.
Revenue is up over 20% in constant currency with growth in every division, especially in the area of online and mobile where net revenue was up over 100% to €104 million.
Patrick Kennedy, CEO of Paddy Power said online now represented three quarters of the group’s profit.
"Online revenues were up 29% in the first six months. Two thirds of customers transacted with us via mobile in the first six months. Mobile revenues are over double the mobile competitor base."
Retail operations are also performing well with operations in over 90 towns and cities across the UK alone.
Patrick Kennedy said he was not very concerned by falling stock prices or a view by Davy stockbrokers that the share price was over-valued.
"The key for us is to position business as well as we can. We over-index in mobile and social media. The prospects are excellent and the stock market will put its value."
Mr Kennedy said the company was fine with the introduction of online betting taxes here and an increase in the rate in the UK, once it's enforced appropriately across the boundaries.
Builders Merchant group Grafton has reported operating profit of €68.4 million for the six months to the end of June.
That includes a once off pension scheme credit arising from a restructuring of the scheme.
Underlying operating profit increased 17% to €36.6 million.
Grafton CEO Gavin Slark said there was a recovery in profitability in both the UK and Irish markets.
"This year the market in Ireland has been relatively flat. But that's the most positive we've seen in the Irish housing and construction market in years. We've seen an improvement in profitability in Irish builders merchant business and the retail business coupled with scale of the UK business."
Gavin Slark said the restructuring of its Irish retail operations had turned out well with a small profit in Woodies for the six months after a huge loss in the same period last year.
"The restructuring and examinership was the right thing to do from our perspective and it's had the right impact on the results of that part of the group."
Mr Slark said the summer months had been very strong and they had benefited from the weather this summer and the improved sentiment in the Irish market.
Ulster Bank believes the Irish economy will struggle to pick up this year and move beyond the 0.2% growth recorded last year.
It has pushed expected GDP growth out to 2014 when it expects the economy to grow by around 2%.
The expected uptick next year is reflected in encouraging trends in employment, property prices and investment.
External factors will also help with the emergence of a more positive dynamic in some of our major export markets.
US banks are facing big fines for misselling mortgages.
Regulators in the States are reportedly demanding $6 billion from JP Morgan to settle allegations that it sold securities to government-backed Fannie Mae and Freddie Mac without checking their quality.
The lawsuits alleged that the mortgages did not meet investors' criteria and as borrowers fell behind in payments, the value of the securities fell, causing huge losses.
Elsewhere, a judge in the US has lifted obstacles to a government lawsuit that seeks $1 billion in damages from Bank of America on similar charges.