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ISEQ and Company Update, 12-Feb-2010

Posted by Senan Coleman | 12 February 2010

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Market update

ISEQ Week Open: 2890.11, Week Close: 2902.08

Boundary Capital PLC

• Confirms that Art Holdings Limited is in negotiations with its lending banks.  The outcome of such negotiations is uncertain at the present time but is likely to result in restructured facilities, however the level of debt owed by Arnotts means that there is unlikely to be any material value for Boundary Capital's investment in Arnotts.
• Source: http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10369155

United Drug

• Overall profits in the Healthcare Supply Chain division are ahead of last year. In the Republic of Ireland the introduction, in January 2009, of a previously announced reduction in the price of off-patent medicines means that overall revenues for the period are in line with those in the same period in the prior year.
• The Group has had a successful first quarter and the trading outlook for most parts of the business is encouraging. After taking account of the new agreement on medicine prices in the Republic of Ireland that came into effect on 1 February 2010 and the investment in the current year in the UK homecare joint venture the Group expects profit before tax for the year to 30 September 2010 to be broadly in line with the prior year, on a constant currency basis.
• Source: http://miranda.hemscott.com/servlet/HsPublic?context=ir.access&ir_option=RNS_NEWS&item=342066227857847&ir_client_id=2202

Ryanair

• Announces its 40th base in Lithuania

Greencore

• Proposed disposal of malt business for €116.25m.
• Source: http://www.greencore.ie/assets/docs/Greencore_Analyst_Presentation_11_February_2010_FINAL.pdf

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