Castle Market Holdings (CMH), the joint venture between Jermyn Investment Properties and Treasury Holdings, intends to submit a new planning application to extend Stillorgan Shopping Centre in south County Dublin.

The first application was refused by An Bord Pleanala in January on the grounds that serious traffic congestion would result.

CMH said it would re-apply for planning permission with a revised scheme "which addresses the matters raised by the board".

The statement was made as Jermyn Investment Properties announced its results for the year ending December 31st, showing operating profits up from £2.6 million (€3.3 million) to £6.09 million (€7.7 million). Turnover was up to £10.7 million (€13.59 million) from £7 million (€8.8 million).

Operating profits for the CMH joint venture were down from £3.3 million (€4.19 million) to £3.2 million (€4.06 million).