Fourfold increase in Tubridy firm profits

Accumulated profits at the media firm owned by Ryan Tubridy increased almost fourfold to €227,661 last year in spite of the RTÉ star taking a hefty pay cut.

Accounts from The Late Late Show presenter’s firm, Tuttle Productions, show accumulated profits increased by €167,215, from €60,446 to €227,661.

The company’s cash pile increased from €117,806 to €239,583 in the 12 months to the end of August.

The period covers four months of 2011 when Tubridy was RTÉ’s highest earner, taking in €723,000 for presenting The Late Late Show and his Monday to Friday 2FM morning show.

The Dubliner, who is not an RTÉ staff member, but a contractor, took a 31% pay cut last year resulting in him earning €495,000 in 2012. Income includes revenues from Tubridy’s stints at BBC Radio 2 where he has stood in for Graham Norton.

In an interview earlier this year, Tubridy, who turned 40 this year, confirmed he was willing to take a further cut in salary. “I have delivered every time a knock has come on my door for a pay cut. I have taken at least 32% already. I will not be found wanting. I never have in the past and I won’t be in the future.”

Tuttle Productions last year paid €23,250 in corporation tax that followed a tax bill of €1,005 in 2011. The company paid an additional €50,494 in Vat/Paye/Prsi in 2012.

Tubridy’s salary is funded between licence fees and commercial revenues — the latest figures available show that RTÉ took in €167.3m in commercial revenues in 2011 on top of licence fee revenue of €183.6m for the year.

RTÉ yesterday declined to state how much The Late Late Show generates in revenues each year through advertising and commercial sponsorship.