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TV3 hit by e6.8m loss

TV3 has recorded a 2pc increase in revenue to €58.6m in the last year, with pre-tax earnings jumping 28pc from €4.3m to €5.5m.

However, after bank interest of €2.5m and non-cash items, the broadcaster reported a loss of €6.8m.

TV3 said that €2.8m cash was generated from its operations.

The Ballymount-based station also said that its audience grew during the year; it now claims 3.65m viewers per month.

Investment in 2011 included spending €1m on HD facilities at its base in west Dublin.

David McRedmond, the CEO, said that the double-dip recession had caused the most difficult operating environment for media in Ireland ever encountered.