The Government's six-year timetable to deliver the National Development Plan (NDP) was much too optimistic and would probably take double that period to complete, the chief executive of a leading building materials group said yesterday. Mr John McNerney, chief executive of Readymix, told journalists that six years was a "political aspiration" and capacity constraints within industry would make 12 years a more realistic target for the plan.

He said, from a materials point of view, most of the industry in the Republic was operating at 90 per cent capacity and it would require additional capacity to met the demands of the plan.

"Our view is that we won't see it [the NDP] within six years," he added. "Life doesn't work that way."

He said practical issues such as planning permissions, compulsory purchase orders and establishing rights of way would also determine the rate of development.

After the company's a.g.m. in Dublin, Mr McNerney, said the acquisition of Finlay, the Co Tyrone concrete firm, had pushed up profit significantly in the first quarter of this year compared to last year.

But he said margins in the industry had reduced by around 510 per cent over the past few years while cement prices remained steady.

He said the scaffolders' strike in May and June of last year had cost the company about £500,000 (€635,324) as it caused capacity constraints.

Recently the company had invested in mobile equipment to process material and manufacture product on site to improve efficiency, according to Mr McNerney.

Mr McNerney said management was aware that the west of Ireland was a major gap in operations and he would like to see growth along the western seaboard. But acquisitions had to yield value, he added.

Earlier, two shareholders asked the board to consider paying the company's final dividend of 3.43 cents per share in shares rather than cash. This would be helpful for shareholders dealing in sterling, according to a shareholder. The board agreed to consider the proposal.