Savage hints at growth as Clinic enjoys 'most profitable' year
Published 28/02/2013 | 05:00
The public relations firm led by broadcaster Anton Savage had its most profitable year to date last year, recording profits of €150,196.
Abridged accounts just filed by the Communications Clinic with the Companies Office show the firm's accumulated profits increased from €383,959 to €534,155 in the 12 months to the end of March 31, 2012.
The profits last year represent a 14pc increase on the €131,239 recorded in 2011.
The firm's directors include Mr Savage's parents, Tom Savage – who is current chair of the RTE Authority – and broadcaster and columnist Terry Prone.
All three had worked at Carr Communications before establishing the Communications Clinic in 2008.
Presenter of 'Savage Sunday' on Today FM and MD of the firm, Anton Savage said: "We are entering our fifth year in business and we are pleased to have been able to return profits every year. The financial year ending 2012 has been our most profitable to date.
He said: "Despite the difficult environment we have seen growth across our business, with particular growth in the area of career development and job interview preparation as well as in our communications training division, in line with growth and stabilisation in a number of economic sectors."
The accounts – which do not disclose a revenue figure – show that the firm more than doubled its cash last year from €254,766 to €552,203.
Mr Savage said: "A number of years ago, we were able to return the initial equity investment made by our shareholders and have since developed a strong cash position, with no debt on our balance sheet.
He said: "Given these reserves, we're planning investments in the business in terms of people, facilities and technology and will be making announcements about these in the coming weeks."