Profits at Pat Kenny’s firm near €1 million mark

Cash pile also increases by almost €200,000 to €586,541

Accumulated profits at Pat Kenny’s media firm climbed to almost €1 million last year, according to accounts filed to the Companies Office this week.

The Newstalk broadcaster’s company, Pat Kenny Media Services Limited, reported a profit increase of €139,982 to €982,749 during the financial year to the end of last June.

The firm’s cash pile also increased by almost €200,000 to €586,541 during the 12-month period, and had financial assets worth €709,512.

Mr Kenny (68) owns 99 per cent of the shares in the company and is listed as a director along with his wife Kathy (53). The firm’s directors were paid remuneration of €430,066 last year.

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The presenter’s financial fortunes have continued to thrive since he departed RTÉ after 41 years in 2013 to join radio rivals Newstalk. Since then, his company has reported profits increases of €458,059 in 2014 and €139,982 last year.

Peak

His pay at the State broadcaster peaked in 2008 at €950,976. It was reduced to €729,604 the following year and stood at €630,000 in 2010 and 2011.

His current salary is unknown but he admitted to being “completely gobsmacked” by Newstalk’s offer to prise him away from RTÉ in 2013.

The latest JNLR figures revealed drops for several shows on Newstalk, including the Pat Kenny Show, which airs on weekdays from 10am to 12.30pm. His listenership had dropped 7,000 to 126,000 compared to the last quarter.

The accounts received by the Companies Office on Monday show that the firm was owed €72,417 by debtors on 30 June 2015, while a total of €387,187 remained payable to creditors.

The value of the company’s financial assets fell by €120,000 during the accounting period to €709,512, while the firm’s directors took at pay cut of €29,915 with remuneration falling to €430,066 compared to €459,981 in the previous year.