Sales climbed by 36 per cent at estate agent and auctioneer Hamilton Osborne King (Hok) last year. Accounts lodged in the Companies Office for Anatao - the parent company - show that the group generated sales of €29.1 million in the year ended September 30th, 2004.

This compared to group sales of €21.5 million in the previous 12 months.

As well as the Dublin-based Hok estate agency business, which draws its turnover from a combination of commissions on property sales and property valuations, the group includes the Belfast-based subsidiary and a number of investment business.

The results show that the group posted an operating profit of almost €3 million last year, compared to an operating loss of €211,127 in 2003.

Pretax losses, which strip out interest paid out and received, amounted to €3.2 million in 2004.

In 2003, pretax losses were €18,316.

A spokesman for Hok said 2004 had been "a very strong year" for the group across both its residential and commercial businesses.

He said the company has continued to trade well in 2005, and is expecting another "strong performance" this year.

Hok has recently been involved in a number of large retail schemes, he added.

The company paid no dividend last year, having paid €362,205 in dividends in 2003. Remuneration, including pensions, for Hok's directors rose by 61 per cent from €1.2 million in 2003 to just under €2 million last year.

The accounts show Hok had four directors at September 30th last year, including managing director Paul McNeive and finance director Graham Slater. The other two directors at that stage were Isobel O'Regan and Peter O'Meara.

Hok had cash on its balance sheet of €8.8 million at the end of September 2004, compared to €8.2 million at the same point in 2003. Net assets amounted to almost €4 million, up from €1.3 million a year earlier.

Anatao is in a subsidiary of Actium, whose shares are owned by the directors and employees of the companies in the group.

The largest shareholder is Mr McNeive, with 8 per cent of the ordinary shares and 13 per cent of the redeemable ordinary shares.

Three other directors - Patrick Nolan, Aidan O'Hogan and Graham Slater - each have 7.5 per cent of the ordinary shares and 10 per cent of the redeemable ordinary shares.