The company behind the Business Post newspaper and website narrowed its losses in 2020 as it limited the decline in its revenue to 1.7 per cent despite the impact of Covid-19 on its events business.Limited incurred a pre-tax loss of €215,420 in the year the pandemic struck, which compares to a loss of €526,507 in 2019, when it had higher exceptional costs, according to accounts just filed to the Companies Office.
In a note accompanying the 2020 accounts for Post Publications, the directors said revenue from its Sunday newspaper circulation and digital subscriptions recorded “strong growth” in the year compared to 2019 as consumers “sought out high-quality, fact-checked journalism as a result of the pandemic”.
Similar patterns for both direct consumer income and advertising have been reported across the Irish media market. The company, which is owned by businessman Enda O’Coineen’s Kilcullen Kapital Partners, is also active in conferences and other corporate events. It was obliged to cancel these throughout the spring and summer, but investment in a digital streaming platform allowed it to begin staging virtual events from September 2020 onwards.