Top stories in the papers this week 3 – 9 September 2011

Packaging levy 'will hurt retail industry'; Retailers: 12% of diesel is laundered; Own brands give boost to multiple's bottom line

News

9 September 2011

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1. Packaging levy ‘will hurt retail industry’

The government’s controversial plans for a new commercial packaging levy would force a double taxation on businesses and do nothing to reduce waste, retailers have warned. The Irish Independent reports Retail Ireland has made a submission to government dismissing the plan; claiming it would only further damage the business sector. Environment Minister Phil Hogan is currently considering submissions on the proposal.

2. Retailers: 12% of diesel is laundered

Petrol retailers estimate that about 300 million litres of laundered diesel — or 12% of the total diesel market — is being sold in garages every year. According to the Irish Examiner, the retailers say this is costing the state €155m in lost tax revenue and around 120 outlets are currently involved. Last week a large laundering plant in Monaghan was smashed by gardaí and Customs and seizures of laundered fuel were made at petrol stations in five other counties.

3. Own brands give boost to multiple’s bottom line

The Irish Independent profiled Martin Kelleher this week, MD of Musgrave’s SuperValu and Centra brands in Ireland. Naturally his views on the proposed Superquinn takeover were requested. He also revealed that Musgrave’s own research shows the typical household has about €60 less a month to spend on groceries following the last Budget, and that in the past year SuperValu has witnessed around a 5% or 6% growth in sales of own brand products.

4. Fyffes half-year profits at €17.3m

Fruit importer Fyffes has reported pre-tax profits of €17.3 million for the first six months of 2011, up 30.4% compared to the same period a year earlier. The Irish Times states that the company reports its total revenue, including its shares of its joint ventures, was 13.9% higher year-on-year to €459 million. Fyffes’ banana business also performed strongly during the first six months of 2011 with operating profit up €4.2 million.

5. Glanbia confirms Tullamore buyout

Glanbia has confirmed that it has bought the Tullamore Dairies liquid milk brand, but the sale price has not been disclosed. The Irish Independent reports that Tullamore Dairies is one of Ireland’s smallest milk processors. However, the business has grown its market share in recent years via aggressive discounting of milk sales. It is understood that the deal is confined to the sales book of the business, with Tullamore retaining contracted milk supplies.

Also:

Musgrave to move IT functions to IBM (Irish Times)

Warnings issued after fuel pump inspections (Cork News)

Consumer prices rose 0.2% last month (Irish Times)

Bandon Co-op operating profits jump 112% as turnover rises 75%

Retailers to be big winners in new upward-only rent change (Irish Independent)

No room for complacency over competitiveness (Irish Examiner)

Advice programme helps more than 100 SMEs (Cork News)

Cadbury launches €2m Dairy Milk campaign (Business And Leadership)

Argos owner reports sales slump (Irish Examiner)

Enniskerry candle firm records sales of €1m (Wicklow News)

Tesco checks out of Japan after failing to reverse losses (Irish Times)

Half-built centre to be completed (Irish Times)