Davy sees earnings slide by €17m as buyouts hit bottom line
Retained earnings slipped to €131.7 million at the end of last year
Retained profits at Davy Stockbrokers fell last year, as the country’s biggest stockbroking firm splashed out on takeovers and repaid loans to its employees.
Partial accounts published by the company show that retained earnings slipped to €131.7 million at the end of last year, down from €148 million.
Davy declined to comment on its financial results when contacted this weekend. Its profitability has been substantial in the last number of years, and it...
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