A round-up of the other business news stories of the day...

Kennedy joins Bank of Ireland board

Paddy Power chief executive Patrick Kennedy has been appointed as a non-executive director of Bank of Ireland. Mr Kennedy already holds a non-executive directorship at Elan. Prior to joining Paddy Power, he was chief financial officer at Greencore, and also worked in KPMG Corporate Finance in Ireland and the Netherlands. He was also a strategy consultant McKinsey.

Oglesby Butler profits jump

Dublin-listed tool maker Oglesby Butler saw revenues jump 42 per cent to €7 million in the year to March 31st, 2010. This resulted in an operating profit of €763,060, compared to a loss of € 519,494 recorded in the previous year. A final dividend of 1 cent per ordinary share has been proposed by the company’s board.

Recruitment group sees improvement

In its 2010 annual report, chairman Nevin Dowling said the board was confident that the company could continue to be competitive and trade profitably.

Recruitment group CPL is seeing signs of “limited improvement” in some of its markets, but said the immediate future of the Irish employment market was still uncertain.

In a trading update, the company said it expected its profit for the year to June 30th 2010 to be broadly in line with market forecasts, despite difficult market conditions. It said it had remained profitable throughout 2010.