Friday, July 25 11:42:54
Pre-tax profits at Associated Newspapers (Ireland) Ltd, publishers of the Irish Daily Mail and the Irish Mail on Sunday newspapers have reported pre-tax profits that rose 6pc to E1.92m in its full year to the end of September last.
The accounts, just published, show that trading losses fell marginally and that revenues fell 5pc to E18.27m in the 12 months to the end of September.
The papers' UK owners have provided a non-refundable capital contribution of E51.64m to the Irish business.
"The company is conscious of the need for continued financial support from its parent undertaking in order to continue as a going concern," the directors say in a statement accompanying the results.
"The company's principal source of income is its service contracts with Associated Newspapers Ltd."
For more see: www.businessworld.ie