In a statement outlining its performance to the end of October, travel software firm Datalex says its operating performance and financial performance are in line with earlier expectations. During the four months to the end of October, the company said it saw continued growth in its business.
Datalex chief executive Aidan Brogan says the last quarter has seen a lot of activity for the group and its growth continues on track. Its new software deal with Virgin Atlantic went live this week and Mr Brogan says the company's core market continues to be strong, with another new deal due to be announced before the end of the year. Datalex is also due to announce deals with two new airlines next year, he adds. Another exciting development for Datalex in the last few months was the agreement of a technology partnership with Abacus International of Singapore.
Mr Brogan says that one billion people worldwide shopped for online travel products using Datalex software last year, but most of these are not aware of this fact. Its customers include Aer Lingus, Frontier Airlines and WestGen in Canada and people use their brands when buying their airline tickets, but Mr Brogan points out that it is Datalax's technology which enables the airlines to sell more effectively to their customers.
On falling oil prices, Mr Brogan said this is having a very positive impact on world airlines. Airlines are constantly looking to improve the products and services they offer consumers, while they are also always looking to reduce costs. Low oil costs help them to invest more aggressively in other areas of the business, which is good news for Datalex, he adds.
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MORNING BRIEFS - An interim management statement from Independent News and Media, for the year to the middle of this month, shows that group revenues fell by 2.2% and circulation revenues were 2.7% lower. Operating costs were reduced by 2.9% and the statement says profitability is marginally higher year-to-date, compared to flat in the first six months of the year, and that's down to continued cost savings. On advertising, INM says total print advertising revenues are down by 3.4% year to date. But, it says, some categories are showing growth - property, recruitment and inserts.
*** There is also a statement from financial services firm IFG. It says the group has undergone significant change this year and that its earnings will be hit by disposals and investment in its UK businesses.
*** Petrogas Global, which runs Applegreen petrol stations, has reported a 12% increase in turnover and a 63% increase in profitability for the 12 months to December 2013. It now operates 92 stations in Ireland, 53 stations in the UK and two in the US.
*** ANZ, one of Australia's biggest banks, has suspended seven traders as part of an inquiry into the potential rigging of key interbank interest rates. The Australian Securities and Investment Commission (ASIC) has been investigating the country's interbank market since mid-2012. Regulators have been examining rate-setting mechanisms after banks including Barclays, RBS and UBS were fined billions for rigging Libor, the London interbank offered rate.
*** Bank of Ireland staff will get their first pay rise in seven years and a once-off bonus worth 5% of their annual salary after the Irish Bank Officials' Association - which represents most of the bank's staff - backed proposals for a 3.75% pay rise over the next three months. The IBOA's Larry Broderick described the new pay and career framework proposals as "an important milestone on the road to recovery within Irish banking - which also sets an important precedent for other financial institutions."
*** The Asia Trade Forum, part of the Irish Exporters Association, has made a policy submission to the Department of Education for its Foreign Languages in Education Strategy which is now being drafted. It wants to promote awareness of the increasing significance of the entire Asian region for Irish export trade and foreign direct investment and increase access to the study of Asian languages at all levels. The forum says exports to the Asia Pacific region were €1.2 billion last year.
