An upsurge in new members, combined with the hosting of major concerts and exhibitions has boosted the fortunes of the Royal Dublin Society. The RDS has reported a 14 per cent rise in operating profits to £999,000 in 1998 and is continuing to seek out profitable activities for the society for the future, according to its chief executive, Mr Shane Cleary. Turnover rose 13 per cent to £5.3 million.
The board is currently working on a long-term development plan that should be approved later this year. "We are setting out to achieve maximum long-term revenue flows and are looking for new steams of income," he said.
RDS membership increased to 6,972 last year, bringing in total membership fees of £300,000. Mr Cleary said the bulk of its members are from the Dublin area, although a number of overseas members have joined this year. Its rental and events business put in a good performance last year. The RDS hosted over 40 major exhibitions, four outdoor performances and two international conferences during the 12 months period. "We spent a further £1.67 million improving our facilities and the Shelbourne Hall, which was completed in July, has been important in attracting additional new business," Mr Cleary said. The RDS has invested close to £6 million within the Ballsbridge complex in the past five years. Mr Cleary said it is likely to stay in Ballsbridge and the RDS has no plans to sell any more of its land at the moment.
The surplus was achieved after the society spent £625,000 on its foundation aims of promoting and advancing agriculture, other branches of industry, the sciences, arts and equestrianism in Ireland. The foundation activities programme included a wide range of awards, activities and financial supports.
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