Profits at Davy down as it buys back shares

Retained profits at Davy Stockbrokers, the country’s biggest stockbroking firm, declined last year, newly disclosed figures reveal.

The broker’s retained profits slipped to €107 million from €134 million in 2017, according to partly filed accounts.

The figures, which Davy is required to publish for regulatory reasons, reveal that the company’s net assets (which include cash of €151 million) stood at €573 million at the end of last year, up from €531 million at ...