Directors of Adare share out £450,000

THE four executive directors of Adare Printing Group shared total payments of £450,000 in the year to April, a jump from the £270,000 they shared in the year to April, 1995. In the 1995-96 financial year, Adare's profits went from £3.3 million to £7.8 million.

In the annual report, Adare chairman, Mr Denis Bergin, makes only a brief reference to the loss of the Microsoft printing contract by Adare subsidiary Mount Salus Press.

This resulted in the loss of over half of Mount Salus's sales and 70 jobs. "Adare is seeking to rest rue lure the company to ensure 50 good jobs remain," he says.

He says the improved environment has increased the price expectations of potential sellers of companies. This has caused Adare to adopt a more cautious approach towards acquisitions