Irish Press Plc made a pre-tax loss of €563,000 in the nine months to the end of last year, after writing off over €500,000 relating to the value of unspecified investments.

The former operator of the Press stable of newspapers now owns a small collection of assets including Thoms Directories, and a 59% stake in TippFM radio station.

The company has €3.7m left in cash in the bank but says despite looking at investment opportunities in media related businesses none of them have been pursued. It also says it may prove difficult to sustain paying a dividend in the future.

Lite FM head steps down

Seperately on media matters, Martin Block is stepping down as chief executive of Lite FM, the Dublin radio station which was sold last year to UTV.