In Short

A roundup of today's other stories in brief:

Former AIB chief joins board of DCC

The former group chief executive of AIB, Michael Buckley, has joined the board of DCC plc as a non-executive director.

Mr Buckley, who recently resigned from his position at AIB, has joined the remuneration committee of the business support services group's board. He is a former managing director of AIB Capital Markets and NCB stockbroking and is currently a non-executive director of M&T Bank Corporation, of Buffalo, New York state.

Roisin Brennan, an executive director of IBI Corporate Finance Ltd, has also joined the board of DCC as a non-executive director. She has extensive experience of advising public companies, principally in relation to strategic issues and mergers and acquisitions.

DCC is currently awaiting the outcome of a High Court case where it has been accused by Fyffes of insider dealing.

Profits increase at Cooley Distillery

Cooley Distillery, the Irish whiskey company, has reported a 16 per cent increase in pre-tax profits for 2004. However, it said it needed a strategic partner in order to grow.

The company, which owns brands like Tyrconnell and Connemara, increased pretax profits to €1.4 million, with turnover up from €9.5 million to €10 million.

Chairman John Teeling said the company had been looking for a strategic alliance with a multinational drinks company for some time. "This would give Cooley access to markets," he said. "For Cooley to achieve our objective of doubling sales within six years we need partners. We continue to pursue likely candidates," he added.

CanWest wins radio licence

Canadian media group CanWest, which has a 45 per cent shareholding in TV3, has won a licence for a new radio service in Britain.

The regulator in the UK, Ofcom, has awarded a licence for the Solent region on the south coast of England to CanWest. The new station, Original 106, will provide "adult alternative radio", said a statement. CanWest managed to beat off 13 other bidders for the licence, including Virgin, Saga and Emap's Kerrang.

Passengers up 27% at Ryanair

Ryanair carried 3.26 million passengers during August, a 27 per cent increase on the same month in 2004, when the low-cost airline had 2.6 million customers.

The rolling 12-month figure for August - the total carried for the year to the end of that month - was close to 31 million.

The airline sold 91 per cent of its available seats during the month, compared to 92 per cent in August 2004. During the year to the end of August it sold 84 per cent of its seats.

British Airways said it had 3.1 million passengers during August. However, its figures were hit by industrial action at London's Heathrow Airport, one of its major hubs.

Arsenal profits rise to £19.3m

Pretax profit at English premier league soccer club, Arsenal, rose to £19.3 million (€28.4 million) from £10.6 million and cash reserves at the English Premier League club soared in the last financial year.

The FA Cup winners, who are building a new stadium in north London, said net debt increased to £153.3 million in the year to end-May from £141.3 million in 2004. However, their cash reserves rose to £63.1 million from £17.6 million which the company attributed to the success of its finance strategy. - (Reuters)