Image Publications ‘optimistic’ on profits

Revenues at Image Publications Ltd, the company behind women's magazine Image and Aer Lingus's in-flight title Cara , increased 34 per cent last year, according to abridged accounts for the firm. The publisher returned to profitability in line with a five-year strategic plan and is "optimistic" about the prospect of increasing profits, the directors said.

The publisher had equity shareholders’ funds of more than €1 million at the end of 2012. A similar sum of €1.06 million was recorded in its profit and loss account, largely stable on the previous year.

Image Publications has no long-term bank debt and is financially supported by its shareholders. Loans from two of the shareholders, Ann Reihill and Robert Power, “are long term and are unlikely to be withdrawn in the near future”, the accounts state.

Notes to the accounts attribute a turnaround in performance to “a continued emphasis on cost efficiencies, improvements in core business revenues and the success in a number of new ventures”, including the growth of custom publishing, the winning of new contracts and the company’s renewed focus on events management.

Image Publications recently relaunched Image.ie and hired a full-time editor, repositioning it as the home for original fashion and lifestyle content rather than a straight reproduction of the print magazine.

Image had a print circulation of 21,511 in the second half of 2012, according to figures from the Audit Bureau of Circulations, while Image Interiors and Living had a circulation of 17,206. The company also publishes Image Weddings .

Cara has an "affluent, captive" readership of 1.3 million air passengers per issue.