IRES REIT

Acceleration in growth profile

IRES’ acquisition of the Marathon XVI portfolio and associated capital raise is transformational. The deal is immediately accretive and has led to a step-change in the EPS growth rate,...

Irish economy

Room for manoeuvre in Budget 2020 getting squeezed

Despite talk of prudence, the underlying message in the Summer Economic Statement was that spending could rise faster than the 2.5% pencilled into current projections for 2020. If so,...

Hibernia REIT

Upgrading NAV forecasts

We are publishing new forecasts on Hibernia, reflecting the impact of the full year results, as well as revisiting some of our underlying assumptions. The stock trades at a discount to...

CYBG plc

Running hard to stand still

CYBG is working hard to offset the challenging UK retail banking backdrop – repositioning its balance sheet and seeking further cost efficiencies. We expect returns to increase in the...

Irish economy

Institutional investment to help unlock housing supply

House price inflation has slowed due to Central Bank lending mortgage rules but the pressure of housing demand on supply has not, evident in a 7% rise in rents through 2018....

Irish economy

Corporation tax receipts bounce back in June

The key news in June’s exchequer returns was a strong performance from corporation taxes — June is a key month for revenue collection with €2.4bn received, 7.9% better than...

Monthly Market Monitor

Global equities rebound in June; MSCI AC World Index +5.6% (+2.5% Q2)

Global equities advanced 5.6% in June, regaining most of the heavy losses incurred in May (6.1%). The jump leaves the global benchmark with a gain of 2.5% for the second quarter and...

Irish economy

MyHome Property Report, Q2 2019

MyHome asking prices rose by 2.1% in Q2 2019, up 2.4% on the year. Prices in Dublin increased by 0.5%, the weakest second-quarter gain since 2012, with annual inflation now -0.6%. We have...

Irish banks

Monthly update: curveball

The seismic shift in the interest rate outlook fundamentally challenges all banks’ core business models as lower-for-longer interest rates impair profitability from maturity...

C&C

Matthew Clark Bibendum – building a downstream moat

The acquisition of Matthew Clark Bibendum (MCB) materially enhances C&C’s position across the UK drinks supply chain – offering a scale route-to-market for suppliers and a composite...