Bray printer and publisher logs €2.35m deficit in 2003

Lithographic Universal Ltd, the printer and publisher in which Anglo Irish Bank chief executive, Mr Sean Fitzpatrick, has a small stake, had a €2.35 million deficit last year, according to the latest accounts filed with the Companies' Registration Office (CRO).

Lithographic's filings with the CRO show that turnover for the 16-month period ending on July 31st, 2003 fell to €2.6 million, compared to €3.75 million for the year to the end of March 2002.

Operating costs rose by more than €1.2 million, or 30 per cent, to €4.98 million from €3.75 million.

The company posted a loss before tax of €2.35 million for the 16-month period, compared with a pre-tax profit of €8,697 in the year to March 31st, 2002.

Lithographic paid its directors, who included its largest shareholder, Mr Cormac McAlinden, €1.13 million in the 16-month period, compared with €841,532 the previous year.

The accounts also show that it made a capital contribution of €60,000 to a subsidiary, Lithographic Finance, during the 16-month period.

Lithographic Universal, based in Bray, Co Wicklow, is owned by the Lithographic Group. That company has more than 2.5 million issued shares.

Its biggest shareholders include Mr Cormac McAlinden, who holds more than 1.5 million shares and Mr Enda McAlinden, who has 290,850 shares.

Anglo Irish Bank chief executive Mr Fitzpatrick has 15,290 shares, as does Anglo Irish Nominees. Ms Orna Cummins of Killiney Co Dublin has more than half a million shares in the printer and publisher.