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Reliance ‘powering forward' in its centenary year as revenues jump
Reliance ‘powering forward' in its centenary year as revenues jump

Irish Times

time2 days ago

  • Business
  • Irish Times

Reliance ‘powering forward' in its centenary year as revenues jump

Reliance, the Cork-headquartered engineering and robotics component distributor where former tánaiste Simon Coveney was appointed as a non-executive director earlier this year, reported revenues of close to €20 million last year as domestic sales jumped 14 per cent. Accounts filed recently for the Reliance Bearing and Gear Company, which celebrates a century in business this year, reveal turnover climbed by more than 11 per cent to just under €19.6 million in 2024. Reliance distributes a range of mechanical, electrical and agricultural products, specialising in automation and robotics. The family-owned company is based in Little Island, Co Cork, but opened a 60,000sq ft facility on the eastern outskirts of Limerick city in 2019 and opened another facility in Antrim last year. Operating profits at Reliance were up slightly to €958,033 in 2024 from €913,422 in 2023, according to the accounts. READ MORE After-tax profits, meanwhile, dipped to €829,380 from more than €2.3 million in 2023. However, the 2023 figures were impacted by a nearly €1.2 million one-off exceptional item, related to the write-back of an asset revaluation in previous years. Speaking to The Irish Times on Monday, Reliance chief executive Peter Creighton said the company is 'very in tune' with the wider Irish economy and consequently performed well last year. David McWilliams on how 'big incentives' to build could save Dublin city Listen | 36:51 He said the company is 'powering forward' in its centenary year and will be opening up a facility in Dundalk, Co Louth, in 2025 on the 'automation and robotics side' of the business. Mr Creighton said that 2025 has so far been a little bit flatter than last year. 'An awful lot of that has to do with what's happening, the uncertainty with tariffs and Trump and all that stuff,' he said. Earlier this year, the company, which employed 50 people in 2024, announced that Mr Coveney would join Reliance's board as a non-executive director in his first private sector appointment after leaving politics. [ Simon Coveney joins Reliance board as non-executive director Opens in new window ] Mr Creighton said at the time that Mr Coveney's 'extensive experience and proven leadership' will be an important addition to the company. The former Fine Gael TD for Cork South-Central, who held several senior cabinet positions during his career, was subsequently hired by EY Ireland as a consultant to its geopolitical strategy unit. Reliance is a fourth-generation company that was founded in 1925 by Mr Creighton's great-grandfather, Horace Rhodes Kenworthy, as the Reliance Bearing and Gear Company. Mr Creighton holds almost 50 per cent of the company's shares, according to its most recent annual return, while Horace and Laura Kenworthy hold a combined stake of just under 40 per cent.

Gerwyn Price and Daryl Gurney involved in heated exchange at World Matchplay
Gerwyn Price and Daryl Gurney involved in heated exchange at World Matchplay

Irish Daily Mirror

time2 days ago

  • Sport
  • Irish Daily Mirror

Gerwyn Price and Daryl Gurney involved in heated exchange at World Matchplay

Gerwyn Price found himself embroiled in a fiery confrontation with rival Daryl Gurney following the Welshman's commanding 10-7 triumph in their World Matchplay opening round encounter in Blackpool. The duo exchanged a tense handshake after Price wrapped up victory on double 12, before Gurney seemingly objected to his opponent's on-stage theatrics. Gurney had slipped to a 6-2 deficit but sparked hope by claiming the ninth leg, marking the moment by copying Price's signature fist-pumping routine. The Derry native came within one dart of drawing level at 8-8 before Price, the 2022 runner-up, kept his composure to break clear and secure the win. Antrim's Josh Rock – Gurney's partner in last month's World Cup of Darts triumph – enjoyed greater fortune as he stormed to a comprehensive 10-5 victory over 14th seed Ross Smith. Rock rattled off the opening five legs without allowing his rival a glimpse of a finishing double, with the 24 year old completing proceedings with a blistering 104 average to exact revenge for last year's first round defeat to the same opponent. Rock's reward is a clash with Michael van Gerwen, who laboured through a taxing 10-6 success against veteran Dutch adversary Raymond van Barneveld. Van Gerwen, a three-time champion, profited from a string of squandered opportunities by his rival and admitted he derived little pleasure from his display. "I made it so difficult for myself and when you make it difficult it's a hard game," Van Gerwen told Sky Sports. "From the position I'm coming from, I didn't play a lot of tournaments, and that makes it hard. We all know I'm a winner, I hate losing, and I think it's the start of something nice." In the first match of the tournament's third day, sixth seed Chris Dobey managed to secure a 10-5 victory over Germany's Ricardo Pietreczko.

Coulter and McCormick step down as Antrim camogie bosses
Coulter and McCormick step down as Antrim camogie bosses

Yahoo

time2 days ago

  • Sport
  • Yahoo

Coulter and McCormick step down as Antrim camogie bosses

Antrim are seeking new camogie management as it was confirmed on Monday that joint-bosses Carl McCormick and Martin Coulter have stepped down after two years in charge. McCormick stepped into the role during a turbulent 2024, as Brian Kearney and Mark McFadden resigned prior to the start of the league. Last year, Antrim lost their All-Ireland senior status but did retain their place in Division 1B of the league. McCormick and Coulter were then ratified for 2025, and the Saffrons enjoyed an upturn in fortunes, winning Division 1B and retaining their Ulster crown, but would come up one point short in last weekend's All-Ireland intermediate semi-final against Offaly. "After our Senior management's decision to step down at the end of a two-year run, Antrim Camogie would like to thank Carl and Martin and their backroom team of Joey, Cormac, Eleanor and Eimear for their tremendous commitment and hard work over the past two seasons," read a statement from Antrim Camogie. "We thank them for leaving the Saffron jersey in a marvellous place, having won back-to-back Ulster senior titles and winning Division 1B earlier this season, securing our place in the top flight leagues next year." Antrim enjoyed a flying start to the year, winning all of their group games in 1B before a 3-10 to 1-11 victory over Clare in the final to seal promotion into the top flight. That was followed by a 2-17 to 1-11 provincial final win over Derry and in the Intermediate championship group phase, they scored victories over Meath and Westmeath before edging out Offaly by two points to top Group 1 and maintain their 100% record for the year. However, the Faithful would turn the tables in Newbridge on 12 July with a 1-16 to 2-12 win, which would see them into the final and end Antrim's season with McCormick and Coulter subsequently informing the county board on Sunday of their decision to stand down.

Coulter and McCormick step down as Antrim camogie bosses
Coulter and McCormick step down as Antrim camogie bosses

BBC News

time2 days ago

  • Sport
  • BBC News

Coulter and McCormick step down as Antrim camogie bosses

Antrim are seeking new camogie management as it was confirmed on Monday that joint-bosses Carl McCormick and Martin Coulter have stepped down after two years in stepped into the role during a turbulent 2024, as Brian Kearney and Mark McFadden resigned prior to the start of the league. Last year, Antrim lost their All-Ireland senior status but did retain their place in Division 1B of the and Coulter were then ratified for 2025, and the Saffrons enjoyed an upturn in fortunes, winning Division 1B and retaining their Ulster crown, but would come up one point short in last weekend's All-Ireland intermediate semi-final against Offaly."After our Senior management's decision to step down at the end of a two-year run, Antrim Camogie would like to thank Carl and Martin and their backroom team of Joey, Cormac, Eleanor and Eimear for their tremendous commitment and hard work over the past two seasons," read a statement from Antrim Camogie."We thank them for leaving the Saffron jersey in a marvellous place, having won back-to-back Ulster senior titles and winning Division 1B earlier this season, securing our place in the top flight leagues next year."Antrim enjoyed a flying start to the year, winning all of their group games in 1B before a 3-10 to 1-11 victory over Clare in the final to seal promotion into the top was followed by a 2-17 to 1-11 provincial final win over Derry and in the Intermediate championship group phase, they scored victories over Meath and Westmeath before edging out Offaly by two points to top Group 1 and maintain their 100% record for the the Faithful would turn the tables in Newbridge on 12 July with a 1-16 to 2-12 win, which would see them into the final and end Antrim's season with McCormick and Coulter subsequently informing the county board on Sunday of their decision to stand down.

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