Fees paid to non-executive directors of department stores group Arnotts rose by 27.5 per cent to an average of €48,200 (£38,000). In addition, consultancy fees of €41,000 were paid to Mr Michael O'Connor and of €29,000 to Mr Casey Toler.

The company's three executive directors increased their combined salaries by 10 per cent to €481,000 in 1999/2000 from €437,000 in 1998/99. The average amounted to €160,300. Bonuses rose by an average of 11.4 per cent to an average of €42,300.

Goods were sold to four of the directors on normal credit terms, according to the annual report. Mr James Duignan received goods amounting to €12,685, Mr Andrew Knowles €15,487, Mr O'Connor €17,693 and Mr Richard Nesbit €9,060.