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Irish bookmaker Paddy Power has seen strong returns over the past month whereas much of the Eurozone is encountering a weakening.
Ireland businesses in general have been flourishing amidst the tough economic times throughout Europe. Both the nation’s major airlines, Ryanair, the biggest in Europe, and Air Lingus, continue to thrive.
The banking sector is no exception to this rule either. According to the Limerick Leader, Allied Irish Banks (AIB) – the largest component of the ISEQ with a market value in excess of €50 billion – has witnessed a 20% growth in ISEQ since Mid-October while the Bank of Ireland reported 14% growth in seven days.
The Limerick Leader notes that, for Ireland at least, their rigorous austerity program over the past few years has not been in vain.
Paddy Power reported last week that its full-year results would be better than expected because a series of favourable sporting results in the World Cup and Premier League boosted revenue in the second half.
Growth in its earnings per share is expected to be in “mid-to-high teen” percentages, the company reports.
- Aaron Goldstein, Gambling911.com
