Poor advertising caused losses: Tribune
The Sunday Tribune lost €2.1m before tax in the year to June last on a turnover of nearly €11m.
Chairman Gordon Colleary attributed it to a poor year in advertising, which widened losses from €1.6m the year before, and also a drop in turnover from €12.1m.
He said the Sunday Tribune held its market share despite the Sunday newspaper market in Ireland being "one of the most competitive in Europe", and that its relaunch had been well-received by the market.
Accumulated losses at Tribune Newspapers reached almost €30m by June 2003, with total assets less current liabilities at €4.1m.
Overall staff numbers dropped from 74 to 68, with editorial numbers remaining at 30.
Independent News and Media plc, which owns almost 30% of the company, lent €2.3m to the newspaper during the year.
