An Post has reported an operating profit of €8.4m for last year, a significant turnaround from its €12.4m loss in 2016. The return to profit came on the back of a 1.2% rise in revenues to €840m while costs also fell at the company. Last year the price of a standard stamp rose from 72 cent to €1. The company said that when gains from the sale of its Cardiff Lane site and a refinancing dividend from Premier Lotteries Ireland of €9m are included, it posted a pre-tax profit of €49.6m for the year to the end of December. | Procter & Gamble has today announced a deal to buy the consumer health business of Merck for about €3.4 billion. The deal will give P&G vitamin brands such as Seven Seas and greater exposure to Latin American and Asian markets. Procter & Gamble's stable of brands include Pampers nappies, Gillette razors and Vicks cough and cold products. The price for Merck's business suggests that the German company climbed down from price demands of as much as €4 billion, which sources told Reuters had deterred initial suitors such as Nestle. | Department store group Debenhams today warned on the full-year outlook for the second time in four months and cut its dividend as it reported a 52% slump in first-half profit. The retailer, which issued a profit warning in January, also said Matt Smith, its chief financial officer, was quitting the retailer to become finance chief of rival Selfridges. The 240-year old Debenhams is one year into a turnaround programme led by chief executive Sergio Bucher, a former Amazon and Inditex executive. | Food group Nestle confirmed its full-year guidance after organic sales growth accelerated to 2.8% in the first quarter of 2018, helped by improving volumes. The maker of KitKat chocolate bars and Maggi soups confirmed its target to grow organic sales by 2-4% this year and improve its trading operating margin. It also said it was on track to return to mid-single-digit organic sales growth by 2020. | Unilever, the Anglo-Dutch consumer goods giant, today reported first-quarter sales figures that met expectations, helped mainly by increases in the volume of products sold. The company also maintained its full-year outlook. The maker of Dove soap and Ben & Jerry's ice cream also expressed confidence that shareholders will support its decision to change its corporate structure and have its main headquarters in the Netherlands. Unilever undertook a deep review of its business and structure last year after fending off an unwanted $143 billion takeover offer from Kraft-Heinz. | Swiss-Irish baked goods maker Aryzta has said that Dermot Murphy is stepping down as its Europe CEO. Mr Murphy, who has worked at the company for the past 20 years, will be replaced by Gregory Sklikas in the role. Gregory Sklikas, who will take up his new position at the end of May, joins Aryzta from Dutch group Friesland Campina. The company, whose brands include Otis Spunkmeyer and Cuisine de France, earlier this year sharply cut its 2018 core profit forecast due to ongoing weakness in European and US markets.   |||