Dublin-based advertising agency Irish International increased its pretax profit by 4.3 per cent to €2.3 million last year due in part to reduced administrative expenses and an increased profit contribution from a joint venture.
Latest accounts for Tramway Investment Holdings Ltd, the holding company for Irish International's various operating entities here, show that group turnover rose by 3.5 per cent to €18.6 million.
Expenses declined
It's cost of sales rose by €650,000 to €9.6 million but its general and administrative expenses declined by 1.3 per cent to €7.3 million. This left the company with an operating profit of €1.7 million, which was 4.8 per cent higher than in 2011.
The profit share from a joint venture rose to €368,814 last year from €170,725 in 2011. The company's corporation tax charge declined marginally to €353,864 while its net assets rose by 16.6 per cent to €15.4 million.
Client wins
No dividend was paid last year to its US-based parent company Omnicom.
Client wins for Irish International in the past 18 months or so have included pan-European work for snack brand Mars, in large part focused around in-store promotions for 16 different markets.
It also secured a contract with the NFL American football league to promote the sport in the UK and Ireland.
This year it has added state food agency Bord Bia and the Denis O’Brien-owned radio station Newstalk to its client roster. Other clients include Electric Ireland, Aer Lingus, Bank of Ireland and cable TV and broadband provider UPC.
