Profits up at Connacht Tribune media group
Accumulated profits at the Connacht Tribune media group last year increased marginally to €6.67m.
New accounts filed by Connacht Tribune Ltd, which operates the Connacht Tribune newspaper group and Galway Bay FM show that the group's accumulated profits last year increased from €6.646m to €6.67m.
The best performing part of the business was the company behind Galway Bay FM, Western Community Broadcasting Services Ltd, which increased its accumulated profits by €60,144 from €3.796m to €3.856m in the 12 months to the end of March 31st last.
The Connacht Tribune is one of the few remaining independently owned regional titles and publishes two titles each week, the Connacht and City Tribune, after publishing the last edition of the Connacht Sentinel last November.
Accounts filed by another Galway media firm, which is behind the Galway Advertiser newspaper, show that it recorded a profit of €98,448 in 2013.
This resulted in Galway Advertiser Ltd's accumulated losses reducing from €3.52m to €3.45m.
Separate accounts show that independently owned media firms in Clare enjoyed contrasting fortunes in 2013.
Accounts filed by Clare Community Radio Holdings plc, which that operates Clare FM, show that it doubled its pre-tax profits in 2013 going from €33,461 to €67,813.
This followed revenues increasing marginally from €1.423m to €1.436m.
However, losses continued to mount at the firm that operates the Clare Champion with accumulated profits declining by €219,810 from €1.369m to €1.149m in 2013. The firm's cash increased from €139,372 to €170,884.