Cork new media firm halved losses last year

CORK-based new media firm, DigiServe halved its losses last year.

The company made a loss for the year to the end of December 2008 of €82,638 and had net liabilities of €725,782 at the end of the year, according to accounts just filed.

In 2007 it had pre-tax losses of €150,683.

“The directors have continued to prepare the financial statements on the going concern basis as they have received assurance from the company’s ultimate parent, Amekab Limited, that it will provide the company with funds as and when required to enable it to continue trading for the foreseeable future,” the accounts read.

No dividends or transfers to reserves are recommended by the directors.

According to DigiServe it operates the world’s largest membership-based online service for Irish people. Its websites include online.ie, IrishAbroad.com, HolidayRenter.com and IrishSites.com.

Turnover in the year fell slightly from just over €61,000 to €55,585 last year.

According to the accounts thedirectors of the company are American’s Jim Boettcher and Eric O’Brien and William Casey. Bridget Casey resigned as a director in September last year.

It is noted in the accounts that two staff are employed by the firm and staff costs last year amounted to €58,776.