Daily Press Reports
In business news, Kerry Group, the Irish multinational food and beverage company, has maintained its full-year growth guidance of the middle-to-lower end of 6%-1% adjusted earnings per share growth. The company reported a 0.4% rise in revenues for the first nine months of the year, with volume growth of 3.2%.
Meanwhile, One51, a metal recycling company, has sold its Irish metals recycling business to its former owners. The sale was confirmed by One51 in a short statement, but details about the reasons for the sale, its impact on earnings, or the former owners are not currently available. It's worth noting that One51 had previously acquired metal recycling firms in Ireland and the UK at the tail-end of the last decade for over €200m.
Elsewhere, Yelp, the American multinational corporation that connects people with local businesses, has announced plans to cut up to 175 sales and marketing roles at its offices outside North America. The company did not specify where the cuts will occur, but it plans to maintain and grow its engineering teams in London and Hamburg. Yelp intends to refocus its resources on its home market.
In a move to enhance user experience, Uber, the ride-hailing giant, is launching a new app that aims to become an integral part of users' daily lives. The app will start to predict where its users are likely to go at certain times, and make suggestions based on past trips to recommend the most convenient pick-up and drop-off points. Uber users will also be able to link their calendars, track friends' locations, and find information such as reviews and news at their destinations. Travis Kalanick, chief executive of Uber, said the new features are Uber's biggest product overhaul in four years.
Lastly, Glanbia, the Irish multinational nutrition group, has reiterated its full-year earnings per share growth guidance of 8%-10% in constant currency terms. The company also reported a 2.4% annualized revenue increase in the first nine months of the year.
Merrion Stockbrokers, an Irish stockbroker, has upgraded Kerry Group's stock to a 'trading buy'. Uber's new app will work more closely with partners, including Yelp, Snapchat, and Pandora.
[1] Council contract registers, local bid postings, development proposals, and chemical product sales. [2] No mention of One51 Metal Recycling or any related business transaction. [3] Unrelated topics. [4] No specific details about the One51 Metal Recycling Business sale. [5] Investments written down by a total of around €90m, largely in 2011 and 2012.
- The general-news sector might also include updates on council contract registers, local bid postings, development proposals, and chemical product sales.
- Despite the sale of One51's Irish metals recycling business, the latest financial news doesn't provide specific details regarding the impact on earnings or the reasons behind the sale.
