Irish Press in the black but ‘concern for future’

A PRE-TAX profit of €354,000 has been reported for 2005 by the Irish Press plc, rising from a €306,000 loss in 2004.

The turnaround was largely attributed to a strong performance at its TippFM radio subsidiary in Co Tipperary and a small profit generated by Thom’s Publications. Increased investment income and a reduced charge to goodwill also played a part. The group recorded a turnover of €2 million for the year.

However, management has expressed doubt over future publications of the well-known Thom’s Directory register and concern over growing competition in the regional radio market.

According to Irish Press plc chairman Eamon de Valera: “TippFM has consolidated its position as the radio station with the most listeners in Co Tipperary, where its market share has increased to 50%.

“But, it is impossible not to be concerned at the policy of the Broadcasting Commission of Ireland (BCI) to license new regional and other stations which will draw from the same pool of advertisement revenue as existing stations.”

On the subject of Thom’s Publications, Mr de Valera said that a decision on whether or not to publish a 2007 edition of the directory would be taken later this year when the latest draft of electoral register becomes available.

He said future publications had been threatened by “the denial of full access to the electoral register”.