Manx Radio has turned a loss of ?230,000 in the financial year 2004-2005 into a profit of ?98,000 in the twelve months to the end of March.

In the company's annual report, which will go before this month's sitting of Tynwald, Chairman David North says the turnaround was achieved through cutting costs and re-focusing sales activities.

He pays tribute to staff in every department of the business but says savings made in the programming area, without resultant cuts in service, are not sustainable.

It means spending on programming will have to increase.

Mr North adds that Manx Radio continues to be under-capitalised and is still unable to progress projects which are essential and long overdue.

(Picture: Manx Radio, from manxscenes.com).