Dole raises 2025 earnings guidance despite ‘unpredictable' economic environment
Dole raises 2025 earnings guidance despite 'unpredictable' economic environment
Vish Gain
12:43
The group formed in 2021 through the merger of between a Dublin-based Fyffes spin-out and US-based Dole Food Company.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
3 hours ago
- Irish Times
Some could lose out in means-tested child benefit
The introduction of a second tier, means-tested child benefit payment would involve the replacement of some existing supports and could lead to some lower-income households losing out financially, the Tax Strategy Group (TSG) papers suggest. Marin Wall reports. Staying with the TSG papers, Cliff Taylor tells us that the income tax dilemma faced by the Government in framing October's budget is underlined in the key pre-budget papers, which say that indexing tax bands and credits for inflation would cost over €1 billion. And on the same subject Barry O'Halloran says that boosting betting tax in the budget would raise up to an extra €53 million a year for the State, according to Department of Finance officials, while Michael McAleer informs us that a 1 per cent increase in the higher rates of Vehicle Registration Tax (VRT) is one of the budget options outlined by the TSG papers. The European Union is pushing for any future tariffs on pharmaceutical products sold to the United States to be capped at a blanket 15 per cent rate, in ongoing trade negotiations with US President Donald Trump's administration. READ MORE Pharmaceutical products have emerged as one potential sticking point in intense EU-US negotiations to land a tariff agreement in the next eight days. Jack Power reports from Luxembourg. An Coimisiún Pleanála has given the green light for plans to demolish a Smyth's pub on Haddington Road and replace it with a bar and apartments despite locals' fears of a 'superpub' being developed. Gordon Deegan reports. How will the updated National Development Plan shape Ireland in years to come? Listen | 35:59 October's budget is quickly coming into focus, with the Government publishing a key pre-budget document, the Summer Economic Statement, this week. And Ministers face a string of key decisions about the shape of the package, which will have implications for voters' pockets. Voters have got used to giveaway budgets. But despite budget measures of €9.4 billion being signalled, the benefits to households could be significantly less. Here are the big calls facing the Cabinet from Cliff Taylor. In terms of pay, 2024 was a bumper year for the 21 long-standing bosses of the largest Irish publicly-quoted companies, driven by large bonuses paid by companies that exited the Dublin market and moved their primary listings to New York, writes Joe Brennan in Agenda. Figures compiled by The Irish Times show that their average pay package rose by 31 per cent to €4.36 million last year. The median chief executive compensation package, which gives a better picture of the pay landscape as it eliminates the distorting effects of outliers on the pay scales, rose by 16 per cent to €2.53 million. That's 56 times the median salary in Ireland, of about €45,000. We profile four of the eight finalists in the emerging category for this year's EY Entrepreneur of the Year awards. The finalists will vie to become EY Entrepreneur of the Year at a ceremony later this year. The four are: Alan Doyle of Aerlytix; Eddie Dillon of CreditLogic; Aidan O'Shea and Hilary O'Shea of Otonomee and Caitriona Ryan and Niki Ralph of The Institute of Dermatologists In our Friday column Brooke Masters looks at the issue of Donald Trump, Coca-Cola and cane sugar. Last Wednesday, the US president posted on Truth Social that Coca-Cola had agreed to change the domestic formula of its namesake drink to feature 'REAL Cane Sugar' rather than high-fructose corn syrup. The company patently was not ready. But six days later it finally confirmed it would launch a US cane sugar cola in the autumn. If you'd like to read more about the issues that affect your finances try signing up to On the Money , the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.
Irish Times
4 hours ago
- Irish Times
EY Entrepreneur of the Year profiles: From aviation finance software to changing private dermatology
Alan Doyle, Aerlytix Alan Doyle, Aerlytix chief executive Aerlytix is a Dublin-based technology company dedicated to the aviation finance industry. Its software is used by leading lessors, global aviation banks and investors, handling billions of dollars in aircraft transactions. The company provides products for customers to scale their businesses, while driving efficiency and value. The Aerlytix team is assembled from the banking, technology and aviation finance world. What vision/light bulb moment prompted you to start up in business? Necessity really was the mother of all invention. When my previous employer shifted strategy and planned job cuts, I asked a supportive boss if I could spin out the company, bring some of the core tech team, and find clients and investment myself. It was agreed, and the rest, as they say, is history. Describe your business model and what makes your business unique. Aerlytix is an aviation finance tech company helping aircraft owners, investors, lenders and lessors make smarter decisions through fast, accurate cash-flow modelling and analytics. READ MORE What makes us different is our deep focus on blending technology, aviation finance with the metal (ie aircraft). Being based in Ireland, the heart of global aircraft leasing, provides us with the perfect home for our products. What was your 'back-to-the-wall' moment and how did you overcome it? Getting clients before the software was built was the key moment for our existence. Agreeing long-term contracts with two amazing Irish aviation lessors during Covid was a huge win but my stress levels were through the roof at the time. What moment/deal would you cite as the 'game changer' or turning point for the company? I wouldn't say there was one game-changing deal. It was more the sheer volume of deals over a 12-month stretch that made me realise things had shifted and there was a strong demand for what we can provide as pioneers in this space. Looking back at the end of that year, it was clear we'd hit a new level. What were the best and the worst pieces of advice you received when starting out? A mentor of mine once said the pricing model of your software will not be as you think. He was spot on. That may not sound very exciting, but for those who are in fintech, they will know what I mean. To what extent does your business trade internationally and what are your future plans/ambitions? We have a lot of Irish clients since aviation leasing's headquarters is Ireland. However, as we move into other client spaces such as banks, lenders and investors, we have gone truly global. That is just going to increase as we move forward. Describe your growth funding path. I have been very lucky in that I have a great US investor who has been very supportive since our inception. Unfortunately, Ireland does not yet have the ecosystem when it comes to VC/PE investing, so I had to look outside. It is changing but there is still a long way to go when compared to the US investment space. How will your market look in three years and where would you like your business to be? Technology evolves very fast. If you are not investing in it constantly then you will be left behind. AI, combined with our modelling and team, has huge possibilities. I think my capital-intensive industry will come to rely on innovative technology and strong risk management practices common in other investment classes. Aerlytix will be at the forefront of that evolution. What are your annual revenues and profits? All I can say is we have invested more than €10 million to get to the profitability space. How are you deploying AI in your business and what impact has it had on your performance? We love AI but also remain cognisant of the limits to what is actually possible today. We are strategically sprinkling AI throughout our software and development, and that will only grow more over the next 12 months. What makes your company a good place to work? Finding people to build complex software is not easy. We cannot match tech giants on pay, but we offer flexible roles where people learn and grow quickly and feel part of something that is pioneering in this space. What is the single most important piece of advice you would offer to a less experienced entrepreneur? Having smarter people than you work for you is a privilege and critical to a company's success. I consistently hire people who excel in fields where they have a far deeper understanding than I. Eddie Dillon, CreditLogic Eddie Dillon founder of CreditLogic. Photograph: Naoise Culhane Eddie Dillon founded CreditLogic in 2018, as an AI-powered software-as-a-service platform to help banks simplify, digitise, and scale their regulated new customer processes. Built by banking professionals, the platform delivers results by replacing manual, paper-based workflows with secure, real-time automation. It supports more than 60 regulated entities, including all major Irish banks, government agencies and non-bank lenders. The company also has clients in Spain, Greece, and Italy. It operates from offices in Dublin and Madrid, employing a team of over 30 professionals. What vision/light bulb moment prompted you to start up in business? Over 10 years ago, when I worked in banking, I was handed a 1,000-page mortgage file that had cost over €20,000 to process, only to find the customer had secured finance elsewhere. The inefficiency was clear. I searched for a technology solution, found none and saw the opportunity to build one – sparking the launch of CreditLogic, with international scale in mind. Describe your business model and what makes your business unique. I developed CreditLogic as an AI-powered software-as-a-service platform that simplifies regulated customer processes for banks. Designed and built with comprehensive banking expertise, it eliminates paperwork and manual processes, reducing customer processing times by 90 per cent and costs by 50 per cent. Unlike traditional solutions, it readily knits to the bank's business process and can be deployed instantly, replacing long, costly internal IT projects. Proven at scale, we now support major European banks and government entities. What is your greatest business achievement to date? We were the first fintech in our space to be adopted by an Irish bank. Today, we're trusted by every major Irish bank and over 60 regulated firms. Evolving from a start-up viewed with scepticism to being designated as a core transformation partner is a massive achievement. What was your back-to-the-wall moment and how did you overcome it? Starting out with painfully slow early enterprise sales, especially while supporting a team who had left secure roles to back my vision. Winning our first bank client demanded resilience, patience and belief. We overcame high security and procurement thresholds by offering low-risk pilots to prove value. Credibility, persistence and a clear return on investment finally got us over the line. What moment/deal would you cite as the game changer? The onset of Covid-19 was a pivotal moment. It exposed banks' overreliance on manual processes and in-person interactions, rapidly accelerating the need for digital solutions. We shifted from being a 'nice-to-have' to a strategic necessity. What were the best and the worst pieces of advice you received when starting out? The best advice is my key driver today: always maintain ruthless financial discipline – protect cash flow and ensure pricing supports sustainable unit economics. The worst? A throwaway line: 'You don't need a parachute to go skydiving – only if you want to go again.' It was a sobering reminder of the risks involved and the value of building for the long term. Describe your growth funding path. Initially self-funded, with support from friends and family, we built a strong financial foundation. We've since raised over €8 million to fuel growth ambition, including a €3.5 million round in 2024 with continuing support from international fintech investors and Riverside Acceleration Capital, their first investment in Ireland. What are your annual revenues and profits? In 2025, we will exceed €5 million in annual recurring revenue with underlying profitability. Gross margins consistently exceed 80 per cent, and EBITDA margins are projected above 30 per cent. Our strong financial performance is underpinned by long-term contracts, low customer churn and a highly scalable software-as-a-service model. What are you doing to disrupt or improve your products/services? CreditLogic delivers real-time automation, reducing processing times by up to 90 per cent. AI is central to our proposition – transforming customer experience and eliminating inefficiencies. We continuously evolve our platform through client feedback, regulatory insight and secure GenAI integration. What makes your company a good place to work? We've built a values-led, inclusive culture centred on our mission to build a sustainable financial ecosystem. Our team spans 10 nationalities, united by purpose and empowered by shared success. With flexible working, mentoring, and continuous learning, we create an environment where people are empowered, make real impact, and help shape meaningful change in financial services. What is the most common mistake you see entrepreneurs make? Many focus too much on product and not enough on validation. Product-market fit is everything. It confirms demand, economics and relevance. Without it, there's no scalable business. Entrepreneurs must obsess about solving real problems, not just building clever products. Aidan O'Shea and Hilary O'Shea, Otonomee Aidan O'Shea and Hilary O'Shea, co-founders of Otonomee Otonomee is a remote customer management outsourcing company. Founded in 2020, it provides people and products that enable clients to scale their customer experience. It is a certified B-Corp that has grown to 400 employees in Europe, the United States and Asia. Its clients are leading Irish and US tech and ecommerce customers. What vision/light bulb moment prompted you to start up in business? When Covid struck in March 2020 and the entire world went home to work. It was proven that working from home could be effective, secure and productive. We imagined that the traditional call-centre business could be disrupted by building a business where people worked entirely from home and not in big, cramped call centres in the middle of overcrowded cities. Describe your business model and what makes your business unique. Our business is unique in that we are entirely remote first. We have no offices and everyone works from home. The business is purpose built as remote first and everything we do, every process and practice, has been designed for remote working. This operating model allows us greater responsiveness, agility and flexibility in designing and building customer experience solutions. What is your greatest business achievement to date? Starting Otonomee during a time when the world was unsure how it would emerge from Covid. Surviving and growing the business to €20 million in turnover in five years. What was your back-to-the-wall moment and how did you overcome it? It's often hard to believe how close the line is between failure and success and how many Irish entrepreneurs experience this. At one point, we effectively ran out of cash. The business was growing rapidly, and we had a strong pipeline, but we had heavily invested in our team and technology and so the business was consuming cash. Banks and state agencies couldn't understand that scale requires aggressive and brave moves and so declined to help. We raised €500,000 from friends and family who believed in us and in the business, and that got us through a period, until we made it to profitability and self-sufficiency. What moment/deal would you cite as the game changer or turning point for the company? Winning a deal with a fast-scaling US health tech Oura. It gave us scale and a reference customer in the US. It helped us demonstrate that we could deliver a complex, large, global solution for one of the fastest-growing tech companies in the world. What were the best and the worst pieces of advice you received when starting out? The worst advice was not to work together as husband and wife. Working together as husband and wife is one of the business's strengths. Having co-founders who are 100 per cent aligned, open, honest and complementary in our skills and background has been a major factor in our success. To what extent does your business trade internationally and what are your future plans/ambitions? About 90 per cent of our business is from exports (internationally traded services). We see the US as our main growth area, and we plan to leverage our existing US customers and reference brands to win more customers. Describe your growth funding path. The business is growing fast and is profitable. We can fund our future growth organically. We would be open to taking on funding from a partner where they brought in strategic support or capabilities that would enable us to grow the business significantly in the coming years. How will your market look in three years and where would you like your business to be? We have a plan to be at €50 million in turnover by the end of 2028. We are aiming for 15 per cent in EBITDA. What are your annual revenues and profits? We have confirmed orders for €20 million in revenue in this financial year and are on track to generate €2.2 million in EBITDA. What impact have Donald Trump's tariffs had on your business? How has this affected your view of the United States as a place in which to invest? So far, no impact. But if there is an escalation and retaliatory tariffs we may be impacted. No business can assume they will be exempt. Our main US customers have European entities, which we had contracted with from the outset, so this was positive for us. We have also established a presence in the US and are in the process of setting up an entity there which will give us some protection if we need to operate onshore in the US. Caitriona Ryan and Niki Ralph, The Institute of Dermatologists Caitriona Ryan and Niki Ralph, co-founders of the Institute of Dermatologists Caitriona Ryan and Niki Ralph are consultant dermatologists and co-founders of the Institute of Dermatologists. The company aims to transform the delivery of private dermatological care through collaborative practice, with a US-style group model, combining medical excellence with aesthetic care. It is based in Ballsbridge, Dublin 4, and is served by 13 consultant dermatologists, a cosmetic suite, a rapidly growing online sales platform and more than 20 employees. The clinic offers medical and aesthetic dermatology with a conservative, evidence-based ethos. In response to patient demand for evidence-based wellness solutions the company launched ID Formulas, a scientifically formulated oral supplement to support healthy skin, hair, energy, cognitive performance and longevity. What vision/light bulb moment prompted you to start up in business? After working in the Irish, UK and US healthcare systems, we saw how the US group dermatology model offered better continuity, peer review and innovation than Ireland's solo-practice norm. We decided to establish Ireland's first collaborative dermatology clinic, offering gold-standard medical, surgical and aesthetic care in one setting. Describe your business model and what makes your business unique. We've built an integrated skin health platform spanning medical dermatology, aesthetic procedures, longevity support and surgical care. Patients benefit from a unified medical and aesthetic journey underpinned by scientific rigour, innovation and a female-led leadership team. What is your greatest business achievement to date? Within six years, we've grown from a two-person start-up to Ireland's leading full-service dermatology practice, now with 13 consultant dermatologists, 24 staff, and over 38,000 patient visits annually. We've expanded our clinic, launched a science-led supplement brand, and are developing Ireland's first private skin surgery centre. What was your back-to-the-wall moment and how did you overcome it? Covid-19 struck just nine months after opening the Institute of Dermatologists, forcing the closure of our cosmetic suite and a sharp decline in patient visits. We focused on essential medical dermatology, expanded teledermatology, and developed our online skincare sales platform. We adapted quickly, and used the experience to build greater operational resilience which laid the foundation for subsequent growth. What were the best and the worst pieces of advice you received when starting out? The best: 'Only scale what is already working exceptionally well.' The worst: 'You can't do it all.' Founders are often told to narrow focus, but our strength lies in executing a broad, integrated vision. To what extent does your business trade internationally and what are your future plans/ambitions? We have trademarked ID Formulas in the EU, UK, UAE, and US. Our supplement is set to expand internationally via dermatology clinics and select retail in 2026. We also plan to bring our clinic model to other Irish cities and select Gulf and UK markets. Describe your growth funding path. We've bootstrapped and reinvested returns into scaling. We are exploring Enterprise Ireland high-potential start-up funding to accelerate growth. How will your market look in three years and where would you like your business to be? The convergence of health, beauty and longevity will accelerate. We aim to be a trusted global player in scientifically backed skin health, expanding our supplement brand internationally, scaling our dermatology group across Ireland. What are your annual revenues and profits? We are projecting 40 per cent year-on-year growth over the next three years, driven by premium services and product innovation. What are you doing to disrupt or improve your products/services? We're changing the paradigm of private dermatology in Ireland, introducing collaborative care, creating the first dedicated skin surgery centre, and launching a dermatologist-led supplement grounded in longevity science. How are you deploying AI in your business and what impact has it had on your performance? We are piloting AI-supported diagnostic triage to reduce wait times and improve clinic flow. In ID Formulas, we use AI tools for predictive analytics and consumer segmentation, helping us refine marketing strategy and personalise supplement journeys. What makes your company a good place to work? We've built a collaborative, respectful, uplifting environment where medical, cosmetic and administrative staff work seamlessly together. As a female-founded organisation, we prioritise flexibility, mentorship and professional growth. Our team benefits from a strong sense of purpose, clinical excellence, and the opportunity to be part of a pioneering, values-driven healthcare model. What impact have Donald Trump's tariffs had on your business? Minimal impact to date, but protectionism reinforces the importance of EU and UK supply chains. We view the US as a key market, particularly for supplements, but remain vigilant about trade barriers when scaling.
RTÉ News
13 hours ago
- RTÉ News
WRC finds Fair City photographer was not a freelancer
RTÉ has failed to have employment rights claims by the former on-set photographer for Fair City thrown out, after the Workplace Relations Commission (WRC) ruled, for the first time, that a supposed freelancer at the national broadcaster was actually an employee. The statutory complaints were brought by photographer, Beta Bajgart, who was previously the subject of commentary at the Public Accounts Committee when it emerged the national broadcaster was paying €60,000 per year for promotional images of the Dublin-based soap opera. Ms Bajgart's case against RTÉ under the Protection of Employees (Fixed-Term Work) Act 2003, the Organisation of Working Time Act 1997, the Terms of Employment (Information) Act 1994 and the Unfair Dismissals Act 1977 will now proceed to a full hearing, following a preliminary ruling today. It is the first WRC case where the principles of a major Supreme Court ruling in 2023 on the distinction between employees and contractors have been applied to the position of a worker at RTÉ. The alleged misclassification of media workers as freelance contractors by RTÉ is a major legacy issue at the national broadcaster. She claims her job as a photographer on the set of RTÉ's flagship soap opera was terminated without notice on 15 December 2023. The broadcaster's lawyers had argued Ms Bajgart was not an employee, but a freelance contractor - giving the employment tribunal "no jurisdiction" her complaints. Adjudication officer Catherine Byrne noted that Ms Bajgart suffered "negative commentary" in September 2023 after attention was drawn to Ms Bajgart's role following a hearing of the Oireachtas Public Accounts committee, which had been scrutinising RTÉ's finances. In the wake of the publicity, Ms Bajgart's solicitors wrote to RTÉ asserting that she had acquired a contract of indefinite duration and was an employee, the tribunal noted. The broadcaster's director of human resources replied that RTÉ's relationship with the photographer was "not an employment relationship" but that she was "a supplier of services". Ms Bajgart was first engaged for the work as an independent contractor for a year starting in June 2011 at €750 a week. There were repeated renewals of the contract and Ms Bajgart won tender competitions in 2017 and 2019, with the rate for the job rising to €980 a week over that period, the tribunal noted. However, Ms Bajgart did not apply when the work was put out to tender again in September 2023, and ultimately ceased working on the Fair City set on 15 December 2023, when the tender process was readvertised, the adjudicator noted. Ms Bajgart gave evidence that she was interviewed for the job in 2011 and "got the contract", with "no discussion about the legal implications". She explained that she set the rate for the job based on her previous work for another production, Off the Rails. Addressing a gap in her contracts between 14 October 2018 and 21 January 2019, Ms Bajgart said she "simply continued to work" and got paid. Her barrister, Michael O'Doherty BL, who appeared instructed by Conor McCrave of Setanta Solicitors, asked if she had "consented to doing the job as an independent contractor. Ms Bajgart replied: "I wanted the job," and added that it was "never offered" to her as a position of employment. Under cross-examination from RTÉ's solicitor, Louise O'Byrne of Arthur Cox, asked Ms Bajgart whether she had done other work while engaged for Fair City. Ms Bajgart said she ran her freelance business around the Fair City shot list and that it was difficult to look for clients because she never knew when she was due on set. Ms O'Byrne also referred to a letter sent by the complainant to the Irish Times and the Irish Independent in September 2023 following remarks by Fine Gael senator Micheál Carrigy about Ms Bajgart's, in which the complainant had stated: "The photographer on RTÉ's Fair City is an independent contractor." Ms O'Byrne argued this showed the claimant "did not consider herself as an employee" of RTÉ. Mr O'Doherty said she had described herself as an independent contractor "because she did not want to upset her employer and potentially lose her job by publicly describing herself as an employee". Adjudication officer Catherine Byrne wrote that the "day-to-day reality" of Ms Bajgart's working relationship with RTÉ was "not consistent with how she was described in her contract as 'a supplier' and 'not an employee'". Ms Byrne noted that Ms Bajgart had been working 20 hours a week, part-time, for 12 years on "a series of fixed-term contracts" in a role which "contributes to the promotion and success" of Fair City. The worker had had a desk on set, "no discretion" about her level of attendance there, and could only work elsewhere three or four hours a week, and performed the work personally 95% of the time, Ms Byrne said. There were limits to Ms Bajgart's "artistic independence" and her freedom to alter her way of working in a bid to increase her earnings, with a fixed weekly rate being paid, Ms Byrne added. Ms Byrne also noted that during a period between October 2018 and January 2019, when there was no contract in place, Ms Bajgart "continued to turn up for work" and got her normal weekly rate "without any dispute". "This continuity of employment, in the absence of a contract, is indicative of a relationship of interdependence and trust, and not that of a commercial agreement," Ms Byrne wrote. "The authors of the agreements… may have genuinely believed that the working relationship with [Ms Bajgart] was that of an independent contractor, at least in the early years," she wrote. "However, it seems to me that the sustained nature of her job and the sole reliance by the respondent on the complainant to do the work, means that the legal basis of the agreement evolved from a supplier's agreement to that of an employee," she added. Ms Byrne wrote that her investigation of Ms Bajgart's status was clouded by the fact the photographer appeared to have "acquiesced" to being classified as self-employed for years - and even described herself as an independent contractor in open letters to two newspapers in 2023. "This acquiescence has no bearing on my conclusion that her relationship with the respondent was that of an employee," the adjudicator wrote.
