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BUSINESS WEEK : 'Landslide' vote at Jurys Doyle egm.

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| October 01, 2005 | COPYRIGHT 2005 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Irish Independent)

JURYS Doyle group shareholders approved by a landslide at Tuesday's egm the sale of two of its hotels to developer Sean Dunne for 260m.

The move paves the way for Mr Dunne to tear down the Jurys Ballsbridge hotel and the adjoining Towers Hotel and replace them with a high-rise luxury apartment complex.

A packed meeting of shareholders in the Burlington Hotel voted 96pc in favour of the sale, setting a new record of 55m an acre for land in Ireland.

Around 400 full-time equivalent jobs will be lost as a result of the closure of the two hotels.

FOOD and agri-business group IAWS on Monday posted a 20pc rise in pre-tax profits to 115m in the year to the end of July, helped by a 7m exceptional profit from the sale of an animal proteins business.

Even allowing for this once-off boost, the underlying figures were also good, as earnings grew by 13.4pc to 70.41c a share and operating profits were up 13.7pc to 124m.

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