Markets

Markets Update: FBD rises on boosted profit projection

Irish-owned insurer was up 7 per cent following a late update yesterday

FBD: Insurer said it expects profit before tax for 2023 to be €80 million, far exceeding analyst expectations. Picture: Getty

Insurer FBD was the big winner on the Iseq All Share on Wednesday as investors cheered its news that profits would outstrip market expectations.

Late on Tuesday the Irish-owned company said it expects profit before tax for 2023 to be €80 million, far exceeding analyst expectations. Analysts at Davy, who had anticipated profits to be €62 million, said the company was unlikely to increase its dividend for 2023. However, the broker speculated the second half ...