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

25th April, 2021
Davy boasts €70m in profits as potential buyers circle
Davy has put itself up for sale in the aftermath of a damning Central Bank investigation into a bond trade that took place in 2014

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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