A round-up of today's other business stories

Readymix site expected to raise €16m

Construction supplies group Readymix hopes to raise at least €16 million from the sale of its former headquarter site at East Wall Road in Dublin. The 1.6 acre site is zoned for residential use and could accommodate up to 130 apartments.

Last year Readymix applied for planning permission for apartments on the site but was refused on the basis of design. A spokesman for the company, which is majority-owned by Mexican cement firm Cemex, said it was looking at a number of options for the cash likely to be generated from the sale. CB Richard Ellis is handling the transaction, which is likely to attract the attention of several developers.

Kerry Group chief enjoys 4% pay rise

Kerry Group chief executive Hugh Friel enjoyed a 4 per cent increase in his remuneration last year to €1.2 million.

Mr Friel was paid a basic salary of €675,000 in 2005, a performance-related bonus of €330,000, benefits-in-kind worth €33,000 and a pension worth €163,000. Deputy chief executive Denis Cregan enjoyed a pay packet of €1.02 million, a 5 per cent increase on 2004, while finance director Brian Mehigan was paid €693,000, a 12.5 per cent rise.

AIB to gain from Polish interest

BZ WBK, which is majority-owned by AIB, has reported a stronger-than-expected 47 per cent increase in first quarter net come to 175 million Polish zlotys (€45.3 million).

The figure was ahead of market forecasts of €151 million as the bank benefited from strong demand for consumer loans and its asset management services. The Polish bank is expected to account for around 8 per cent of AIB's 2006 profits.

Kingspan founder paid €1.02m

Kingspan's co-founder and head of corporate development, Brendan Murtagh, was paid €1.02 million last year, an increase of 5 per cent.

His basic salary of €400,000 was boosted by a pension contribution of €388,000 while he also received a performance-related bonus of €200,000 and benefit-in-kind worth €33,000.

Gene Murtagh Junior, who took up the role of chief executive at the start of 2005, saw his package rise by nearly 20 per cent to €719,000 from €601,000.

Ormonde shares rise on mine report

Ormonde Mining said yesterday that an internationally recognised estimate of resources at its La Zarza mine in southern Spain showed it had the potential to become a successful mining operation.

The estimate showed a large copper, gold and silver resource which could produce around 65,000 ounces of gold a year, Ormonde said. Shares in the company rose by 9 per cent to €0.24 yesterday.

Bord na gCon in UK legal battle

A UK based company, Advanced Totes Ltd, has taken legal proceedings to stop the greyhound body, Bord na gCon, from using another company to provide its tote services.

Mr Justice Michael Hanna said he was not in a position to deal with the case yesterday and returned it for mention on Thursday.

Elan agm

Yesterday's This Week column stated that Elan's annual general meeting would take place today.

In fact, the meeting takes place on May 25th.