PROFITS FELL by 19 per cent to €696,116 last year at the largest Irish business of multinational advertising group Publicis.
Accounts just posted by Publicis Media Ltd to the Companies Office show the decline in pretax profits came as turnover dropped by 5.4 per cent to €94.2 million in the year to the end of June 2010. Operating profit was 40 per cent lower at €970,650.
The directors’ report accompanying the numbers describes the main activity of the business is “the planning and purchasing of media slots on television, radio and the printed press”.
Notes to the accounts explain that turnover relates to the value of media handled by the company on behalf of its clients, as well as fees relating to media and research services. The directors state, in a report dated May this year, that the group “will continue to operate at its present activity level in the ensuing year”.
Publicis Media did not pay a dividend last year but shareholders’ funds expanded by almost €600,000 to €3.55 million.
Net debt at the end of the year amounted to €12.5 million, up slightly on €12.38 million recorded 12 months previously.
Staff numbers rose from 58 to 67 during the year, with all of the increase coming in the firm’s media department. Employee costs declined despite the greater number of people, falling from €4.453 million to €4.451 million.
The group’s 10 directors shared payments, including pension contributions, of €1.4 million last year, which was almost €25,000 higher than in the year to June 2009. The pension component of this rose from €44,220 to €133,932, while one director retired during the year.
Accounts for related advertising and marketing company Quinn McDonnell Pattison meanwhile show a slight drop in revenue to €25.3 million but a sharp uptick in profits from €86,305 to €361,504.
