Ad agency sees pre-tax profits rise tenfold

SOUTHERN Advertising, one of the largest ad agencies in the country, saw a tenfold rise in pre-tax profits last year.

Accounts just filed at the Companies Registration Office, show the firm made profits of €360,676 in the year ending September 2004, up from €30,805.

Southern, in business for more than 25 years, did not disclose its turnover. However, gross profits were up from €1.6m to €2.1m.

The Limerick-based company, which represents some of the biggest firms in Munster, paid out €1.2m in wages and salary costs.

The accounts do not say how much the six directors were paid or if a dividend was distributed to the shareholders.

Southern Advertising was formerly known as O’Kennedy-Brindley (Cork). When OKB Dublin was taken over by Saatchi & Saatchi, the Cork company was sold to its management. Southern is the only Institute of Advertising Practitioners full service agency outside Dublin, with offices in Limerick and Cork.

Its balance sheet shows it has asset of €1.4m and long-term debts of €507,481. Shareholders’ funds at Southern Advertising’s year-end were €908,425, up from €590,361 in 2003.