Munster Council in profit hike

THE Munster Council has turned around investment losses of almost €250,000 in its latest annual returns.

The financial report of the provincial council for 2003 shows profits on investments amounted to over €226,000, almost wiping out the embarrassing losses of the previous year.

Secretary Donie Nealon said the losses in 2002 had been sensationalised by the media, “I’m waiting with bated breath to see if the same people will give equal prominence to our good fortune and excellent turnaround in this respect in 2003.’’

The actual profit on investments last year amounted €226,433, while the loss incurred in 2002 was €244,795. It proved a major factor in the council’s profit of €643,126. Income for the year totalled €6.38m, compared with expenditure of €5,76m.

Gate receipts reached an all-time record figure of €3,967,564, representing an increase of €236,993 on the return for 2002.

An attendance of only 20,000 in Pairc Uí Chaoimh for the opening game in the Guinness senior hurling championship between Clare and Tipperary was reflected in a drop of over 140,000 on the same fixture the previous year. On the credit side, attendances greatly increased for the remaining games in the championship. Additionally, there was a replay in the Limerick/Waterford game as well as in the Under-21 final between Cork and Tipperary.

Mr Nealon points out that while gate receipts represent the main source of income for the council, they would be unable to meet their financial commitments but for sponsorship (€183,000), television fees (€247,000), qualifier games’ share (€125,000) and various grants from Croke Park and the Irish Sports Council.