Thomas Crosbies' profits soar to €45.2m

THE Irish Examiner's parent company Thomas Crosbie Holdings' pre-tax profits have soared to €45.2 million from €6.3m.

The sale of property, including the Irish Examiner's Academy Street premises in Cork city centre, resulted in an exceptional once-off gain of €36.6m boost to profits.

Operating profits before interest and taxation at the newspaper company for the year to January last was €10.1m, a near 50% increase on the €6.7m profits made by the company in 2003.