The cash reserves at the media companies owned by two of RTÉ’s highest-paid stars, Pat Kenny and Joe Duffy, increased dramatically last year.
According to accounts recently filed by Pat Kenny Media Services Ltd, its cash was shown to have increased by 61 per cent from €177,241 to €285,547 in the 12 months to June 30th last year.
Separate accounts lodged by Joe Duffy’s firm, Claddaghgreen Ltd, show its cash increased by 89 per cent last year, from €105,728 to €199,833.
Abridged accounts filed by Pat Kenny Media Services Ltd to the Companies
Office also show that the company’s accumulated profits increased more than seven-fold last year, from €21,506 to €168,662. The abridged filings by Claddaghgreen Ltd show that its accumulated profits increased almost three-fold, from €59,372 to €154,502 in the 12 months to the end of April last.
The increase in cash and profits at Kenny’s firm comes in spite of the Frontline presenter taking a cut in fees in 2009 to €729,604 from the €950,976 that was paid in 2008. Kenny works under contract.
Duffy has taken an overall 30 per cent cut from his 2008 payment of €408,889, bringing his annual fee back to €286,220.