Davy boasts €70m in profits as potential buyers circle
Bonus payments to Davy staff may have exceeded €25 million last year, while the stockbroker recorded bumper profits after a strong year for its corporate finance arm
Davy, the embattled stockbroking firm, is telling potential bidders that it made nearly €70 million in profits last year after a bumper year for its capital markets division, the Business Post has learned.
Last year’s earnings boost was driven largely by a boom in the firm’s corporate financing business, which benefited from a number of significant share issues by corporate giants such as Ryanair.
By comparison, the firm’s average...
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