Losses narrow at Premier Sports operator after revenues increase

Pretax losses at the firm that operates the Premier Sports pay TV business last year declined 63 per cent to £1.05 million (€1.2 million) on the back of an increase in subscriber numbers.

New accounts show that pretax losses narrowed sharply at Mickey O’Rourk’s Premier Media Broadcasting Ltd after revenues increased by a third to £25.58 million.

The main activity of the Dublin-registered business is the provision of sports programme services in Ireland and the UK.

Premier Sports broadcasts live Saturday afternoon Premier League games while it also has the rights in Ireland and the UK to La Liga matches in Spain.

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The pretax loss of £1.05 million for 2021 followed pretax losses of £2.83 million in 2020.

The directors said they are satisfied with the results and that revenues rose “due to an increase in subscriber numbers”.

On the 2021 performance, the directors’ report said “the directors believe the company performed in line with post Covid financial projections”.

Numbers directly employed by the firm last year reduced by one, from 20 to 19, as staff costs increased from £576,444 to £757,813.

The pretax loss takes account of combined non-cash depreciation and amortisation costs of £202,096 while the interest payments of £397,434 included £81,826 “interest on overdue tax”.

A note attached to the accounts said the judgments used by management in preparing budgets and cash flows include that sales growth will continue and the ongoing management of the firm’s cost base will adequately safeguard the firm’s cash reserves.