In Short

A round-up of today's other stories in brief.

Buy4Now forecasts 66% rise in profit

Online shopping group Buy4Now, which provides internet ordering services for groups including Superquinn, Eason and RTÉ, is targeting €1 million of profit in this financial year, up 66 per cent on the prior year.

Chief executive Ali Murdoch said the group had exceeded its profit target for the year to the end of March and he expected the strong rate of growth to continue. Net profit in the year to the end of March was €602,635, up from €155,399 a year earlier. Turnover in the period increased 47 per cent to €5.08 million.

Collapsed firm owed over €2.5m

Siptu yesterday called on the Government to investigate the collapse of an indebted construction firm, claiming its workers were taken on by another company set up by the same people and told to carry out the same work.

PSK Construction, based in Naas Co Kildare, went into voluntary liquidation in March owing about €2.5 million to the Revenue, another €500,000 in wages to its workers, plus an unknown amount in unpaid pension contributions. The group had been contracted to work on some of Dublin's biggest construction projects, including a development near Heuston Station for Pierce Construction.

A spokesman for the union said it "beggars belief" that a company can collapse owing large amounts of money and then simply switch the workers over to another employer to continue with the work.

The new company, PLK Plant and Equipment Hire, was set up by the same director, Peter Killeen, and registered at the same address as the failed group, said Siptu.

Anglo picks up three awards

Anglo Irish Bank won three awards at the annual Investor Relations Awards yesterday, including grand prix for best overall investor relations at a large-cap company and best investor relations by a chief executive in the large-cap company category.

IAWS, CRH and Kingspan also picked up two awards each at the ceremony, which was held at the Berkeley Court in Dublin.

De Beers grows stake in Irish firm

Diamond giant De Beers has increased its stake in Irish exploration group African Diamonds.

The Irish company said yesterday that De Beers had bought 500,000 African Diamond shares after exercising its right to acquire stock under an agreement reached in October. De Beers now holds 74.3 million African Diamonds shares.

Smart's 3G case set for July 6th

The High Court has fixed July 6th for the hearing of Smart Telecom's claim that it is entitled to be awarded the lucrative 3G mobile phone licence.

The action, brought by Smart against the communications regulator Comreg, is expected to last four days and will be heard in the Commercial Court, the commercial division of the High Court.