Associated Newspapers cuts losses to €65m

THE company which owns the Irish editions of the Daily Mail and the Mail on Sunday managed to reduce their accumulated losses to just over €65 million last year after making a profit.

Pre-tax profits for Associated Newspapers (Ireland) Limited were up from €868,139 to €1.5m for the 53 weeks ended October 4, 2009.

Their parent firm gave them a gift of €51.6m in the year, which appears in the accounts as a “non-refundable capital contribution”. The ultimate parent company is Rothermere Continuation Limited.