A roundup of today's other business news in brief

North’s recovery will be ‘fragile’

The North’s economy is unlikely to fall back into recession this year, but any recovery is going to be “fragile” and “lacklustre”, according to new forecasts published today.

New research from Northern Bank suggests the local economy will grow by 1.3 per cent by the end of the year, a modest 0.1 percentage point up on the December 2009 forecast.

Angela McGowan, chief economist with Northern Bank, believes that while the majority of the private sector should stage a recovery in 2010, there will also be job losses in other areas.

Couple in €4.6m Anglo judgment

A couple with an address in Sandycove, Co Dublin, are the subject of a €4.6 million judgment granted to Anglo Irish Bank by the High Court in Dublin last month.

The judgment against Patrick and Terri McCoy, Dundela Park, is listed in the latest Stubbs Gazette.

Last week in the High Court the same couple were the subject of a €2.96 million summary judgment granted to the Bank of Ireland.

That judgment concerned a loan granted to them in May 2007 to refinance an existing loan with Ulster Bank relating to a holiday home development in Stradbally, Co Waterford.

Glenisk wins top small business award

Organic dairy producer Glenisk has won the overall Small Firms Association National Small Business Award 2010. It was presented at a ceremony in Trinity College last night.

The Offaly-based company has seen its turnover increase from €150,000 in 1995 to €12 million last year. It produces 10,000 tonnes of organic dairy products yearly.

Other category winners were electronics manufacturer BMS Ireland, temperature-control firm Castlecool, geotechnical firm National Vibration Monitoring, medical device designer Crospon and Matthews Coach Hire.

Total Produce profits fall 4.9%

Food group Total Produce has announced pre-tax profits after exceptional items fell by 4.9 per cent in fiscal 2009.

The company recorded pre-tax profits of €28.4 million for the year ending December 2009, compared to €29.8 million for 2008.

Revenues fell by 3.3 per cent over the 12-month period under review to €2.43 billion.

On a constant currency basis, revenue for the group was up 0.7 per cent. In the fresh produce division, revenue declined by 1.9 per cent to €2.33 billion.

The company said total dividend for 2009 would amount to 1.69 cent.

UK house prices in unexpected fall

British house prices unexpectedly fell 1.5 per cent in February, the first drop since June last year, mortgage lender Halifax said yesterday.

The decline followed a downwardly revised 0.4 per cent rise in January and left prices 4.5 per cent higher in the three months to February compared with a year ago.

Halifax said increased supply, poor weather and the end of a tax holiday for some homebuyers had all contributed to the fall, although it noted property prices were still 8 per cent higher than in April last year.

Halifax said the average price of a home stood at £166,587 (€184,397) in February.