ASSOCIATED NEWSPAPERS Ireland, the company behind the Irish editions of the Daily Mailand Mail on Sundaynewspapers, turned a pretax profit of just over €1.4 million last year, though the company's deficit still stands at more than €60 million.
Accounts filed for the year to October 3rd, 2010, show that pretax profits fell by 7.5 per cent to €1.4 million last year, compared to €1.56 million the previous year.
Turnover was just shy of €19 million – a 2 per cent drop on the figure of €19.4 million posted for the same period the previous year.
Operating profit was also down marginally, slipping to €1.46 million from €1.6 million in 2009.
Notes with the accounts state that the company “is conscious of the need for continued financial support from its parent undertaking in order to continue as a going concern”.
No dividend was paid to the parent company last year. Associated Newspapers is ultimately controlled by Viscount Rothermere.
The company’s deficit fell from €65.5 million in October 2009 to €64.3 million.
Associated Newspapers spent €60 million launching its titles in the Irish market in 2006.
Paul Henderson, managing director of Associated Newspapers Ireland, said the company was "delighted" with the figures, particularly in light of the economic climate. He said the Irish Daily Mailhad experienced 14 months of growth and increased its share of online readers.
Associated Newspapers Ireland employed 145 people on average last year, compared to 135 the previous year. Payroll costs were €10.8 million, fractionally lower than the previous year.
The most recent Audit Bureau of Circulations figures show that circulation of the I rish Daily Mailrose by almost 1 per cent to 49,389 in the second half of 2010, though the Sunday version of the paper was down 1.4 per cent to 110,326.
