PADDY POWER EYES CASINO SECTOR - There are results for 2006 this morning from Kingspan and Paddy Power. There was record growth at bookmaker Paddy Power, with profit before tax up 52%. Turnover grew by 31%, and operating profit was up 51%.
Paddy Power chief executive Patrick Kennedy said growth would continue in 2007 in all areas, and the company had launched two new businesses - online bingo and a German language website - last year.
He said the UK had 'real momentum' and, despite losses, gross win had increased well ahead of the overall UK market.
Mr Kennedy said the company would be interested in becoming involved in a regulated casino market in the Republic, but would be waiting for a Government decision on the issue.
On the election, the company is giving odds off 6-4 on the current coalition staying in power, with the rainbow coalition at 9-4. The Taoiseach is 4-11 to stay in the job.
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GREEN GROWTH KEY FOR KINGSPAN - Construction and building materials group Kingspan's results are also out this morning. These show profit before tax up 37% to €185m, and turnover up 18%. Growth was strong across all of the group's businesses.
Chief executive Gene Murtagh said climate change had become a much more important issue, and the company had consciously invested in products and markets to take advantage of this.
Mr Murtagh said Kingspan was looking for new markets, adding that the North American market was still quite under-developed in terms of energy efficient construction.
On the Irish housing market, Mr Murtagh said the company was seeing a 'slight cooling off' but its products would continue to grow even in a flat market as people converted to more efficient forms of construction.
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CRH PLANS SWISS EXPANSION - Building materials group CRH has made an offer worth almost €340m for Swiss builders' merchant Getaz Romang.
CRH says the offer has been recommended by the Swiss company's board.
