GAA ANNUAL REPORT: After the previous year's decline, the GAA's operating profit was healthily up last year.

Increasing revenues passed a couple of milestones, with total income topping 30,000,000 and gate receipts breaking 20,000,000 for the first time. The operating surplus at 11,812,625 was up 30 per cent on 2002.

The Central Council accounts remain heavily dependent on gate receipts, which again constituted 72 per cent of the total income. This trend reverses the decline in that percentage through the 1990s, although the redevelopment of Croke Park has significantly raised the potential revenue from gate receipts.

On the commercial front there was, however, good news even if the percentage of revenue generated in this area rose by only one point to 22 per cent.

The revenue account for Páirc an Chrócaigh Teo, the holding company for Croke Park, showed a rise in overall income of 15 per cent to 14,882,965. Stadium director Peter McKenna was particularly satisfied with figures showing the rising income from commercial activities.

Hire of facilities at Croke Park rose by 67 per cent to just over €1 million and advertising space was up by 40 per cent to 1,108,450. McKenna also announced that the annual grant from Central Council funds would be phased out over the next six years.

Another part of their 12-year plan will be the renewal of the Cusack Stand executive facilities contracts next year, which is expected to raise 22,000,000. It is also proposed to stage concerts in the stadium starting next year.

"We hope to have concerts as part of the three non-sporting events allowed each year," said McKenna. "There are millions to be made from such events. It can't take place until next year, when the northern terrace, which is the stage area, is completed."

He confirmed that, according to the builders, the terrace would be ready for the All-Ireland semi-finals in August - a month ahead of the agreed hand-over date of the hurling final in September.

Interest repayments last year totalled €5,700,000 and the debt stands at 98,000,000.

Association finance manager Kathy Slattery defended the recent rise in All-Ireland ticket prices in the light of last year's healthy profits. "This year's figures include replay revenue but we don't budget for replays. If they happen that's great, but we don't count on it. When the figures were worked out that was the required increase."