The Royal Dublin Society is investigating a number of ways to increase revenue yield from its 42.5-acre prime location in Dublin, chief executive, Mr Shane Cleary, said yesterday.

Speaking after the publication of the society's results, Mr Cleary said the group was looking at various proposals to exploit the RDS's assets but nothing had been agreed yet.

A contract signed with a developer to lease a 3.5-acre site to build a Four Seasons Hotel complex on RDS property would start generating additional income for the group this year, he said. However, Mr Cleary declined to comment on the details of the rental contract, which is subject to five-year reviews.

The results for 1999 show operating profits were up some 30 per cent at just more than £1 million. Turnover increased some 8 per cent to £5.8 million, up £0.4 million on the previous year.

Capital expenditure for 1999 was just under £1 million, bringing the capital spend of the society to £5.2 million over the past five years. Some £1.1 million was spent on the Kerrygold Horse Show in 1999 and the society allocated £0.36 million to supporting agriculture, arts, science and industry in Ireland.

Mr Cleary said the RDS would concentrate on investing in the calibre and quality of its services and would attempt to grow its events business on the back of this. Substantial capital expenditure will be invested in the redevelopment of the Band Lawn Concert Hall in early 2000 following a successful appeal by the RDS to An Bord Pleanala.

A new scale of charges for car parking at the RDS, introduced last year, is calculated to deter the public using the RDS as a "cheap daily park-and-ride", according to a note in the annual report for 1999. Mr Cleary said car parking created considerable revenue.

The number of members in the Royal Dublin Society declined to 6,745 in 1999, a fall of more than 200 on 1998. It hosted 42 major exhibitions last year.