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MY | MONEY NEWS
Pre-tax profits at insurance firm FBD Holdings more than doubled for the 12 months to the end of December to almost €112.5m from just over €50m the previous year. The increase came despite a slight fall in the company's gross written premium, although some of the difference was blamed on a exceptional loss recorded in 2018. FBD said its average premiums were down 2.2% last year, with motor premiums down 4.2% and farm down 2.5%. | Consumer sentiment remained subdued in February as concerns over household finances largely cancelled out optimism around the economy in general, a new survey shows today. Ireland has remained the European Union's fastest growing economy during three years of Brexit talks. But today's survey shows that many consumers are not seeing an improvement to their financial circumstances from the buoyant economy. The KBC Bank Ireland consumer sentiment index was 85.2 in February, little changed from January's 85.5. | The chief executive of Permanent TSB has said the bank is keeping its mortgage pricing under constant review, but made no commitment on reducing rates further. Jeremy Masding was speaking as the bank reported profits before tax of €42m for the year to the end of December, an increase of 8% on the previous year. | Nutrition group Glanbia has reported higher revenues for the year to the end of December, but its pre-tax profits fell due to challenges faced by its Performance Nutrition division. Glanbia said its revenues rose by 16.6% to €3.875 billion on the back of strong performance from its Glanbia Nutritionals division and by the acquisitions of SlimFast and Watson. | Irish consumers pay the second highest prices in Europe, according to new figures from the Central Statistics Office. The country also has the highest proportion across the EU of graduates in the so-called STEM subjects of mathematics, science and technology. The Measuring Ireland's Progress report for 2018, published by the CSO, paints a picture of the country based on a wide range of indicators compared to the rest of the EU. | Guinness owner Diageo said today the spread of coronavirus in greater China and the Asia Pacific region could knock up to £200m off its profit in 2020. The world's biggest spirits company said that in China, bars and restaurants have largely been closed and there has been a substantial reduction in banqueting. Trading has been significantly disrupted since the end of January and the group expects this to last at least into March. |||