Markets
Markets Update: FBD rises on boosted profit projection
Irish-owned insurer was up 7 per cent following a late update yesterday
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 ...