Sky satellite company pre-tax profits plummet

A COMPANY that installs Sky satellites saw pre-tax profits plunge from €2.1 million to €342,411 last year.

Finlay Communications Limited said 2009 was a very difficult year globally, with Ireland, in particular, severely impacted by the recession.

“Difficult trading conditions, the company’s exposure to currency fluctuations and the outlook for 2009/2010 continues to be challenging with trading since the year end down on last year’s figures for the same period,” accounts read.

Directors’ emoluments were down significantly last year from €267,281 to €110,845.

The accounts for the year to the end of March 2009 said that the balance of the profits for the year amounting to €155,488 will be added to reserves and carried forward to the following year.

The directors have not recommended a dividend.

Gross profit was up slightly from €4.4m to €4.9m.


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