TCH sees group profits slide in 2002

THOMAS Crosbie Holdings (TCH), owners of the Irish Examiner and the Evening Echo, suffered a fall in profits in the year to December 29, 2002.

Audited accounts for the year show that over the trading period the group’s operating profit fell from 2.6 million to 2.4 million as the economy slowed.

After exceptional items including market valuation adjustments of over 3.6 million (these refer to stock market declines), the group’s pre-tax profits fell from 1.2 million in 2001 to a loss of 857,000 in the period under review. Because the TCH results include all of the group’s operating subsidiaries there is no breakdown of individual performances.