The directors of Dublin Bus have held an extraordinary general meeting to discuss the company's critical financial situation, writes Barry O'Keeffe. Its results, due to be published shortly, will show that its accumulated deficit is now £32 million.

The company lost £12 million last year, an increase of £2 million on 1995. The meeting was described as a "technical meeting" as its assets are less than half its called up share capital and by law, it was required to hold the meeting.

A Dublin Bus spokesman said a fares rise was "not on the cards at the moment." However, it would help the company's financial situation.