The late Marian Finucane's media firm sees profits increase

Profits at the media company led by the late Marian Finucane jumped by more than €140,000 to just under €900,000 last year.

The late Marian Finucane's media firm sees profits increase

Profits at the media company led by the late Marian Finucane jumped by more than €140,000 to just under €900,000 last year.

New accounts lodged by the late RTÉ broadcaster’s Montrose Services Ltd show that at the end of October last, the company’s accumulated profits totalled €833,554.

The accounts were signed off by company directors, Ms Finucane’s husband, John Clarke and their son, Jack, on January 30 last.

Ms Finucane’s premature death at the age of 69 on January 2 prompted a national outpouring of grief for the ground-breaking broadcaster and charity fund-raiser.

The accumulated profits at Montrose Services Ltd reduced after the company recorded a loss of €294,625 for the 12 months.

However, the loss is a paper loss and is wholly attributable to an accounting provision whereby the company wrote down the value of the company’s intangible assets valued at €420,000 at the end of October 2018 to zero.

The value of the company’s intangible assets were connected to Ms Finucane’s image rights.

The loss of €294,625 last year followed a profit of €63,552 in 2018.

The company’s cash profits last year increased by €140,784 from €755,862 to €896,646.

The most recent JNLR figures revealed a surge in listeners for Ms Finucane’s Sunday show increasing by 19,000 to 309,000.

Ms Finucane’s Saturday show was the third most popular show in the country and the Sunday show was the country’s ninth most popular show.

Poignantly at Ms Finucane’s funeral last month, her husband John stated that she had decided to retire from her RTÉ post in December.

Mr Clarke stated that they had been “so excited” at the prospect of retirement. He said: “We would have more time, more space, more books to read, more places to see. Sadly that’s not going to happen.”

Ms Finucane was not a paid employee of RTÉ and instead was employed as contractor.

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