The managing director of Avonmore Waterford, Mr Pat O'Neill, has realised a paper profit of £499,407 by exercising options to acquire 254,410 shares in the company. He was one of a number of directors who exercised options to acquire shares in the group at a price of 73.7p on June 16th.

Company chairman, Mr John Duggan, bought 61,060 shares to realise £119,861 on paper. The following each acquired 101,765 shares to realise a paper profit of £199,765: group financial director, Mr Geoffrey Meagher; the chief executive of the agricultural trading division, Mr William Murphy; the head of the consumer foods division, Mr Rory O'Mahony; and the head of the meat division, Mr Edward Power.

Among the other directors exercising options were company secretary Mr Thomas Graham and Mr J F Logan.