Printers’ pre-tax profits hit €2.5m

SPECIALIST independent newspaper printers Web-print Concepts pushed pre-tax profits up by 10% to €2.5 million in 2010.

Accounts filed with the Companies Office do not divulge the company’s turnover but the directors said the results were “in line with expectations”.

Webprint Concepts prints the Irish Examiner, Evening Echo, Sunday Business Post and othertitles belonging to Irish Examiner owner Thomas Crosbie Holdings.

The company’s gross profits for the 12 months to December 31 last rose to €12.1m from €11.9m.

Webprint made pre-tax profits of €2.5m, up from €2.3m in 2009, and paid no tax on profit on ordinary activities.

Its long-term bank loans fell from €10.3m to €9.6m.

The company also has short-term banking finance of €3m to bring its total bank debts to €12.6m. Webprint retained profits of €2.6m at the end of 2010.

The average number of people employed by the company in 2010 fell by two to 56.

Employment costs, including directors, rose to €4.2m from €4m.

The directors, listed as Donagh O’Doherty, Tony Barry and Jennifer O’Doherty, shared emoluments and pension contributions totalling €604,815, up from €384,876 a year earlier.