Saturday November 28, 2020

Positive thinking

There weren't too many shocks in the financial results released during the week, but there were plenty of reasons for companies to be cheerful, writes Philip Connolly.

9th March, 2014
Patrick Kennedy, the chief executive of Paddy Power, which posted profits before tax of €141 million for 2013. Picture: Tony O'Shea

Suddenly, things are going quite well. After years of downgrades and earnings warnings, this results season has a different feel about it. The mood has shifted towards positivity, after a few years in which the equity market has proved buoyant.

Last week, firms such as Paddy Power, Grafton and Total Produce all posted results that were almost universally accepted as positive. But while balance sheets may be looking healthier and earnings projections more promising, the...

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