Small loss for thomond
Published 07/05/2011 | 05:00
The company that operates Thomond Park in Limerick saw sales increasing by 40pc last year, but it still posted a small loss.
Accounts just filed with the Companies Office by Thomond Park Stadium Co Ltd (TPSCL) show that the company's post-tax losses increased by 12pc to €1.5m in the year to the end of June last.
This was despite TPSCL increasing revenues from €2m to €2.8m in its first full year of operations.
Stadium Director John Cantwell yesterday explained that the loss is due to a depreciation charge of €1.39m and interest payments of €259,000.
Cantwell confirmed that revenues are expected to decrease by 8pc, or €224,000, in the current financial year due to the fact the FAI matches held in 2009/10 were not replicated this year.