Pat Kenny media firm’s accumulated profits exceed €1.19m

Pat Kenny Media Services Ltd’s retained profits have soared since he left RTÉ

Pat Kenny: turned 69 earlier this year and remains in high demand from TV executives. Photograph: Bryan O’Brien

Pat Kenny: turned 69 earlier this year and remains in high demand from TV executives. Photograph: Bryan O’Brien

 

Accumulated profits at Pat Kenny’s media firm topped the €1.19 million mark last year as his company enjoyed another strong year.

New figures just filed by Pat Kenny Media Services Ltd show that accumulated profits at the firm last year jumped by €213,177 going from €982,749 to €1.19 million.

The firm’s cash pile in the 12 months to the end of June last soared by €342,518 going from €586,541 to €929,059.

The firm also had financial assets worth €557,358.

Pat and his wife, Kathy, are the only two directors of the firm and the aggregate pay to the two last year decreased from €430,066 to €408,099.The sharp increase in profit at the firm was achieved last year in spite of the company writing down the value of its financial investments by €120,000.

The value of the firm’s financial investments reduced from €729,512 to €557,358 as a result of the €120,000 write-down and disposing of €32,154 of the investment.

Radio and TV

The retained profits of the firm have soared since Kenny’s move to Newstalk in 2013 from RTÉ as the broadcaster has mixed his radio work with TV work at TV3 and UTV Ireland.

Kenny turned 69 earlier this year and remains in demand from TV executives, with the broadcaster currently fronting a TV3 current affairs show every Wednesday – last October, 173,000 viewers tuned in to see Kenny in his new role at TV3.

In an interview at the time, Kenny said the Pat Kenny Tonight show will “probably” be his last big current affairs series on television.

Kenny announced his departure from RTÉ in July 2013 and, at the end of June that year, his firm had accumulated profits of €458,059.However, the accumulated profit of the company has almost tripled to €1.19 million in the subsequent three years since his exit from Donnybrook.