Everymum deal cost ‘Irish Daily Mail' publisher €1.4m
The company paid €1.4m for the business.
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
ADVERTISEMENT
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Examiner
3 hours ago
- Irish Examiner
Directorship bans imposed on brothers behind Starbucks franchise in Ireland
Two brothers behind various Irish franchises, including several Starbucks cafes, TGI Fridays, Mao, and Hardrock Café, have been banned from acting as company directors of any company for five years. A High Court judge imposed the restriction after finding Colm and Ciaran Butler failed to prove they acted responsibly in their operation of one of their companies, Downtul Ltd, which leased a premises at St Stephen's Green, Dublin, that operated as a Starbucks. In a judgment published on Wednesday, Ms Justice Nessa Cahill noted the brothers are directors of more than 130 companies each. 'It is plain from this fact — and from the vigour with which this application was opposed — that the declarations of restriction sought in the particular circumstances of this case would have significant implications for them, beyond the symbolic or reputational,' she said. Her orders followed an application from the liquidator of Downtul, Patrick O'Connell. Downtul was placed into voluntary liquidation in November 2022. Mr O'Connell later raised concerns that the brothers did not act honestly and responsibly 'with regard to their duties, responsibilities, and actions' as directors of Downtul. Arising from this, Mr O'Connell sought an order for the brothers to be restricted from acting as company directors or secretaries for five years unless the company meets certain requirements set out in the Companies Act 2014. The Butlers opposed Mr O'Connell's application. A hearing of the case lasted five days, with both sides calling expert witnesses. Acceding to the liquidator's request, Ms Justice Cahill said she was not satisfied the brothers acted responsibly in relation to Downtul's affairs, but they showed they acted honestly. Ms Justice Cahill said her findings arose primarily from the brothers' operation of Downtul, and a related company they controlled: Atercin Liffey Unlimited Company. Downtul's function was to lease a premises at Stephen Court, St Stephen's Green, and it did not trade or carry on a business. It entered into a lease agreement for the premises in December 2013, its sole transaction. Atercin operated a Starbucks cafe out of the Stephen's Green premises. The judge noted that Atercin operated from the premises rent-free for two-and-a-half years and obtained government supports to deal with the impacts of the covid-19 pandemic. In effect, Downtul bore the liability and cost of the lease, while Atercin occupied the leased premises and earned revenue from its trade there. The judge said Downtul received no contribution from Atercin towards rent due on the Stephen Court premises 'and, consequently, was unable to pay its debts as they fell due'. 'In allowing the company to enter and maintain these arrangements, and in failing to ensure an enforceable mechanism by which the company could obtain the funds necessary to discharge its liabilities as they fell due or otherwise protect its position, the respondents [the Butlers] failed to demonstrate responsible conduct with regard to the interests of the company,' the judge said.
Irish Independent
5 hours ago
- Irish Independent
HR software giant Deel admits it instructed ‘discreet' surveillance be carried out on Irish payroll manager
One of the companies in the international HR firms' "spy" dispute instructed that "discreet" surveillance be carried out on the Irish payroll compliance manager at the centre of High Court proceedings over the affair, a judge was told on Wednesday. US headquartered Deel Inc, which allegedly recruited Dublin man Keith O'Brien to pass on trade secrets to it from his employer Rippling, also headquartered in the US, did not instruct that there be covert or intimidatory surveillance on Mr O'Brien, Mr Justice Brian Cregan was told.
Irish Independent
5 hours ago
- Irish Independent
Revenues at cystic fibrosis drugmaker Vertex hit $2.63bn on back of Kaftrio sales
New accounts show that revenues at Vertex Pharmaceuticals (Ireland) Ltd last year increased by 13pc from $2.31bn to $2.63bn. The Dublin-registered company fulfils all EU-wide sales, and the firm now sells a range of CF drugs that includes Kalydeco and Orkambi across the EU. Vertex has five approved CF medicines that treat nearly three-quarters of the approximately 94,000 people suffering from CF in the US, Europe, Australia and Canada. Pre-tax profits at the company rose by 27pc to $17.6m Against the background of the sharp increase in revenues at the Dublin arm, pre-tax profits at the company rose by 27pc to $17.6m. The company's operating profits increased by 14pc to $10.16m and interest income of $7.4m resulted in the pre-tax profit of $17.6m. The company recorded post-tax profits of $13.2m after incurring a corporation tax charge of $4.39m. The corporation tax charge included $1.23m in adjustments in respect of prior years. Globally, Vertex's sales of Kaftrio/Trikata accounted for 93pc, or $10.2bn, of $11.02bn in global sales. The Irish-based unit accounted for 24pc of global sales. The directors for the Irish-based unit state: 'The increase in revenue for the financial year was due to the continued growth of Kaftrio sales to Vertex-affiliated companies in the EU.' Pay of Reshma Kewalramani, CEO of Vertex's global operations, totalled $23.68m Numbers employed last year increased to eight and staff costs rose by 70pc from $1.3m to $2.2m that included salary costs of $1.5m, $492,000 in share-based payments and $186,000 in social security costs. ADVERTISEMENT The directors state that in December 2024, the Food and Drug Administration (FDA) in the US approved Alyftrek for the treatment of people with CF aged six and over, and the directors state that Alyftrek is currently under regulatory review in the EU. The directors of the Irish company did not receive any pay from the firm in 2024. However, the pay package for the CEO and president of Vertex's global operations, Reshma Kewalramani, last year totalled $23.68m. The CEO's 2024 pay package included stock awards of $17.14m along with non-equity bonus pay of $4.94m. At the end of December last, shareholder funds at the Irish unit totalled $439.16m. Cash funds increased sharply from $262m to $395m.
