Associated Newspapers out of the red

ASSOCIATED Newspapers (Ireland), the publisher of the Irish Mail on Sunday, slipped out of the red last year, with pre-tax profits of just over €900,000.

This compares with pre-tax losses of €7.8 million for the previous year.

The company, however, continued to suffer huge losses on its Irish investment, showing retained losses at €67.5m — slightly down on the previous year’s €68.2m, according to accounts just filed, covering the year to the end of September 2007.