The Wireless Group has reported a pre-tax profit of £10.7m from its continuing operations for the year to the end of December, down from the £11.9m reported in 2014.
The company - formerly known as UTV Media - recently completed the sale of its television business to ITV and is now solely focused on its radio operations.
It posted revenues of £75.1m from these last year, boosted by the Fifa World Cup. This was down from the revenue figure of £82.4m the previous year.
The company reported losses after tax of £5.3m on discontinued operations, which it said reflected the results of the television business.
In what it called "an eventful year", the company launched UTV Ireland and was part of the consortium that won the licence to operate the second national digital multiplex D2 in the UK.
It also sold Juice FM in Liverpool to Global Radio for £10m and agreed to sell its television business, including UTV Ireland, to ITV for £100m.
The company owns several Irish radio stations, including Q102 and FM104 in Dublin and Cork's 96FM.
In its results statement, it noted that the Irish economy is forecast to grow strongly in 2016 and beyond, while consumer expenditure is also forecast to grow.
In its results statement, it noted that the Irish economy is forecast to grow strongly in 2016 and beyond, while consumer expenditure is also forecast to grow.
"This growth should translate into increased advertising expenditure and Irish advertising agencies appear to be cautiously optimistic despite the backdrop of the slowing global economy," Wireless Group said.
"At this stage, we expect single digit Irish radio advertising growth in 2016 with the first quarter softer due to a very strong comparative in January," it added.
"The new Wireless Group has a very exciting future as a focused radio business with market leading assets, a robust balance sheet and a strong management team," commented the company's chairman Richard Huntington.
"We are targeting double digit profit growth over the medium term which should deliver both significant income and capital growth for shareholders over the coming years," he added.
