Manx Radio has reported a financial loss of £1,888, for the year ending March 31 2024.
It said a drop in income, and increased costs resulted in the loss which came after last year’s profit of £14,524.
The station’s government subsidy totalled £1,127,642 for the year, up from £1,089,509 the year before, which Manx Radio said “financed 47% of our income”.
The subsidy is expected to be £1,334,022, including funding for minor capital works of £150,000.
Managing Director Chris Sully said: “Under all the circumstances the resultant loss of £1,888 was I believe a creditable achievement given the continued market uncertainty, which is evident in almost all sectors that we engage with for our commercial advertising revenues.”
You can read the full report here.
5 Comments