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Daft gets profit jump

ONLINE housing group Daft Media reported a 25pc jump in pre-tax profits last year, despite a writedown against its investment in community website, boards.ie.

The group's accounts for the Dublin-based firm show that its pre-tax profits were hit for the second year running following the company writing down its investment in the firm.

Recent accounts filed show that Daft Media Ltd took a majority stake in Boards.ie Ltd last year by investing an additional €1.35m in the company to bring its stake in the firm to 71pc.

Established in 1997 by brothers Eamonn and Brian Fallon, Daft Media Ltd's revenues last year increased by 6pc from €5.7m to €6.1m while pre-tax profits jumped to €2.18m.