Hefty pay cut hits profits at Marian Finucane company
Published 03/03/2014 | 02:30
THE hefty pay cuts to RTE's top stars is starting to hit their bottom line as new accounts for Marian Finucane's firm show its profit surge slowed down dramatically last year.
One of Ireland's most popular broadcasters, accumulated profits at Ms Finucane's firm Montrose Services Ltd last year increased by €62,103 to €853,016.
However, this contrasts with the €206,641 rise in accumulated profits at the firm in 2012 to €790,913.
The abridged accounts show the firm's cash pile dropped from €307,047 to €294,840 in the 12 months to the end of October 31, 2013.
The returns show the firm puts a €600,000 value on Ms Finucane's image rights.
The slowdown in increase in profits coincides with Ms Finucane absorbing a pay cut of 40pc in a single year.
Figures released by RTE last year show Ms Finucane was the third highest paid broadcaster in 2011, behind Ryan Tubridy and Pat Kenny, when she was paid €492,000.
Ms Finucane – who broadcasts four hours each week on RTE with her two weekend morning shows – earned €295,000 in her new deal, representing a swingeing cut of €197,000 in salary.
Ms Finucane's annual salary reached a peak with RTE in 2008 when she received €570,000.
The 63-year old remains a big ratings winner and advertising revenue generator with RTE, as the latest JNLR figures show that the veteran broadcaster has the third and fourth most popular radio shows in the country.
The figures show that the 'Marian Finucane Show' on Saturday recorded a listenership of 376,000, with the Sunday show attracting 353,000 listeners.
In a Newstalk interview at the end of 2012, Ms Finucane said her pay had "changed utterly" in the past few years.
She said: "Of course you realise that what was negotiated at a certain time . . . we are in a completely changed world now, and I know that."