Morning business news - June 30

Monday 30 June 2014 11.03
Morning business news - June 30
Morning business news - June 30

Silicon Republic's female founders forum takes place in Dublin today.

The event celebrates women in science, technology, engineering and maths.

Viddyad founder Gráinne Barron is due to speak at the event about being a female founder in a male-dominated sector.

She said the issue of gender was a “double-edged sword” as people want to redress the balance in the industry, but that should not be the driving force behind their progress.

“You really want to dispel the myth that they’re mostly men but at the same time you don’t want to set yourself because you’re female, you want to set yourself up because you’re a good businessperson and you’re driving a good business with a good business model,” she said.

“I think women should concentrate on that very much in making sure their model stacks up.”

She said the numbers of female entrepreneurs have improved in recent years, especially in Ireland, which she said was “punching above its weight”.

She said she was the only female amongst a group of 100 high-potential start-up founders backed by Enterprise Ireland a few years ago, but that percentage was now around the 15% mark.

Ms Barron also said Viddyad – which allows people to create their own online video ads – was seeing strong growth as the market continued to mature, particularly in the United States.

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Hibernia Real Estate Investment Trust has acquired a building on the south docks in Dublin for €52.25m.

The Observatory building includes office space which is 95% let, two vacant retail units and eight partially completed two bedroom apartments. It was a joint venture between financier Derek Quinlan and developer Bernard McNamara.

It's the eighth acquisition made by Hibernia REIT for a total of €307m, 82% of the proceeds it raised when it listed on the stock market in December last year.

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Hibernia will no doubt be conscious that both asking and transaction prices in residential property rose nationally over the past quarter for the first time since 2006.

The latest MyHome.ie figures, however, show a widening gap between average asking prices in Dublin and outside.

The Dublin figure is currently 34% higher than the national average price, the widest such gap since the peak of the residential property market in 2006.

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Six companies emerged successfully from examinership during the three months to the end of June.

Between them they employ almost 800 staff according to the quarterly examinership index published by accountants Hughes Blake.

Retailer Elverys was by far the largest of the companies come through examinership during the period and accounts for 654 of those jobs.

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Irish technology companies are confident about their growth prospects for the current year.

The Irish Software Association's annual sentiment survey records just over four out of five tech firms as feeling more confident about the year ahead.

Twelve months ago just three out of five felt so bullish.

94% predict a rise in revenues and 70% expect to be more profitable this year.