Everymum deal cost ‘Irish Daily Mail' publisher €1.4m
The £2.2m deal is disclosed in new accounts for the Irish arm of the UK-headquartered Associated Newspapers, which show pre-tax profits increased by 29pc to €1.46m in the 12 months to the end of September 29 last year.
The directors for Associated Newspapers (Ireland) Ltd, which trades as DMG Media Ireland, said revenues increased by 5pc from €15.64m to €16.47m as costs increased by 7pc, 'resulting in a positive profitability for the year of €3.8m'.
The company recorded the post-tax profit of €3.8m after recording a corporation tax credit of €2.33m.
The directors said: 'The revenue and cost increases are due to the investment in Everymum and ongoing investment in print and digital content.
A note to the accounts states that on 17 October 2023 the company purchased the share capital of Everymum Limited for a total of €1.4m.*
Husband-and-wife team John Mullins and Gina Militiadou of the Bray-based Zahra Media sold Everymum to DMG Media Ireland in October 2023 in the £2.2m deal. The sale came 23 years after the couple established the website. Everymum has a community of over 200,000 opted-in users.
The couple's former Eumedia Ltd, which operated Everymum, recorded post-tax profits of €162,015 as revenues increased by 22pc to €1.07m in 2022.
The Everymum website also includes the Ultimate Maternity Guide, the National Parenting Product Awards and the Everymum SuperValu gift bag scheme.
The acquisition of Everymum continued a period of expansion at DMG Media Ireland having acquired a number of businesses over the past number of years including Business Plus, Rollercoaster.ie, OneFabDay.com and Geek Ireland.
The publishing group also operates extra.ie, extraG.ie and evoke.ie
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Numbers employed by the expanding group increased from 124 to 129 as staff costs rose from €9.96m to €10.49m.
Pay to directors declined marginally from €762,000 to €748,000 made up of €699,000 in emoluments and €49,000 in pension contributions.
Accumulated profits at the end of September last totalled €6.67m.
Separate group accounts filed by Daily Mail and General Trust PLC show that revenues increased to over £1bn last year.
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