Cost-cutting measures help halve losses at radio company
Published 21/11/2011 | 05:00
Losses narrowed at the company that operates Clare FM last year after the firm introduced cost-cutting measures.
Documents just filed by Clare Community Radio Holdings plc to the Companies Office show that its pre-tax losses halved from €127,083 in 2009 to €62,350 in the 12 months to the end of December last.
Revenues last year declined by 9.5pc from €1.61m to €1.45m. A tax credit of €5,924 resulted in a post-tax loss of €56,426.
When a non-cash depreciation charge of €88,000 is taken into account, it recorded a cash profit of €31,574. The company had accumulated profits of €1.53m to the end of December.