‘Irish Daily Star’ firm records €1.9m profit for 2015

The company behind the Irish Daily Star made a profit of €1.9 million in 2015, according to accounts recently filed in the Companies Office.

Independent Star Limited paid a dividend of €1.6 million to its shareholders during the year, the accounts show, up from €1 million the previous year.

The company is 50 per cent owned by Independent News & Media (INM) and 50 per cent owned by the Richard Desmond’s Northern and Shell Media Group.

Turnover

The British publishing baron is no longer a director of Independent Star but holds 500 “E” class shares and received half of the dividend paid.

Independent Star recorded a turnover of €20.2 million during the year, down from €21.7 million in 2014.

Its operating profit arrived at almost €2.2 million, up from €1.6 million the year before, following a reduction in its administrative expenses. Its retained earnings at the end of the year arrived at about €851,000.

The daily tabloid newspaper had a circulation of 53,945 in the first half of 2016, down 6.4 per cent on the same period in 2015, according to the latest figures from the Audit Bureau of Circulations (ABC).