Losses narrow to €585,000 at owner of Golden Pages
Pre-tax losses last year continued to mount at the owner of the Golden Pages, FCR Media, as revenues tumbled once more.
New accounts filed by FCR Media Ltd show that the firm recorded the pre-tax loss of €585,000 after incurring pre-tax losses of €1.46m in 2013.
The firm recorded the losses after revenues decreased by 7pc going from €17.32m to €16.15m.
Revenues at the firm in 2011 were €25.8m and have been declining since. According to the directors' report, revenues from print products last year declined from 59pc to 53pc.
The directors stated that the business incurred a 7pc reduction in revenue "and remained loss-making in the year as it continued to invest in sales and product development to bring to market new advertising solutions".
The directors stated that 47pc of the overall revenues "were generated from online and digital marketing solutions in 2014, up from 41pc in 2013.
"These revenues reflect a 6pc increase year on year."
According to the accounts "the directors believe that the development of the company's online and digital marketing solutions will continue to grow into the future and will be the cornerstone of the company's development and growth". Numbers employed fell from 135 to 133 with staff costs down 14pc,from €8.58m to €7.35m.