Builders' merchants Grafton Group yesterday granted options worth €1.3 million at last night's closing price to two directors. Finance director Mr Colm O'Nuallain paid €160 for an option to take 160,000 at €5.45 a share, exercisable between October 2008 and October 2013.
At last night's closing price of €5.51, the option would be worth €881,600. Mr O'Nuallain holds 640,000 shares in the company and options over a further 839,122 shares.
Company secretary Mr Charles Rinn paid €80 for an option to take 80,000 units at €5.45 each, exercisable in the same period. He holds 18,820 shares and options over a total of 371,852 shares in Grafton.
Botox maker nets $76m profits
Allergan, the maker of the wrinkle treatment Botox and contact lenses, yesterday said it swung to a net profit in the third quarter as sales rose.
The company, which employs about 1,000 people in Westport, Co Mayo, reported a net profit of $76 million, or 57 US cents per share, compared with a net loss of $36.8 million, or 28 US cents a share, a year earlier. - (Reuters)
Noyer named as French bank chief
France yesterday confirmed Mr Christian Noyer as the next governor of the Bank of France, choosing a cautious, mainstream policymaker who will take part in European Central Bank decisions on interest rates.
Mr Noyer succeeds Mr Jean-Claude Trichet, who leaves to head the ECB. - (Reuters)
First Lucent profit in three years
Lucent Technologies yesterday reported its first quarterly profit for more than three years, as the company benefited from improved margins in what is traditionally its strongest quarter. But the return to the black was expected to be brief as the US telecommunications equipment maker, which still employs 400 people in Ireland, continues to be dragged down by falling spending in the telecoms industry - a trend few observers believe will change in the next year.
Lucent's fourth-quarter net profit was $99 million, or two US cents a share, against a net loss of $2.81 billion, or 84 cents, a year ago. - (Financial Times Service)
Diageo chief upbeat at a.g.m.
Diageo chief executive Mr Paul Walsh said the group was continuing to make progress even in difficult markets.
Addressing shareholders at the group's annual general meeting in London yesterday, Mr Walsh, said the company - which owns Guinness and Baileys - was well positioned to achieve superior performance.
High Court brand battle settled
Champion Products Europe yesterday settled its High Court action against Dunnes Stores over the use of the word "Champion" on garments being sold by the stores.
In a hearing that opened on Tuesday, Champion Products sought an order restraining Dunnes Stores from selling garments bearing what they submitted was their trade mark "Champion."
Dunnes Stores, which denied the claim and brought a counter claim, submitted that it was not infringing the trademark.
Icon founders paid $1.46m
Icon co-founders and executive directors Dr John Climax and Dr Ronan Lambe shared a package worth $1.46 million (€1.24 million) in the year to the end of May 2003. Dr Climax was paid $924,449 in salary, bonus, pension and benefits in kind by the Irish clinical trials group. Fellow Icon co-founder Dr Ronan Lambe was paid $531,637 in the same period.
