Manx Radio dialled up a £20,392 loss in the last financial year.

The loss came despite the broadcaster receiving a £1.18m taxpayer-funded subsidy during the year.

But the station’s managing director Christopher Sully said he believed it was a ‘creditable achievement’ given the continued market uncertainty.

Radio Manx Ltd’s annual report and financial statements for the year ending March 31, 2025 will be laid before next month’s sitting of Tynwald.

The government subvention of £1,184,024 for 2024-25 financed 50% of the broadcaster’s income.

It also received a further a further £150,000 subsidy that year towards the company's minor capital works.

Turnover from continuing operations was £1,181,182, which was £86,255 (7%) down compared to 2023-24’s figure of £1,267,437.

Operating expenses of £2,420,771 were just £154 below the previous year.

Mr Sully said: ‘Under all the circumstances the resultant loss of £20,392 was I believe a creditable achievement given the continued market uncertainty, which is evident in almost all sectors that we engage with for our commercial advertising revenues.’

Manx Radio made a loss of 1,888 in 2024.

The accounts show that the station employed 35 staff during 2024-25.

Directors' remuneration for Manx Radio’s four directors totalled £279,251, up slightly from £270,083 the previous year.

A 2014 select committee report into the future of Public Service Broadcasting confirmed that Treasury should fund Manx Radio to the level of £850,000 and any future funding should be subject to periodical reviews.

Total subvention was £1,361m in the current financial year (2025-26), which includes £153,000 for minor capital works.

The accounts states that the company is reliant on future subvention payments and Treasury has no plans currently to reduce the level of funding allocated.

Manx Radio’s government subvention will rise to £1.388m this coming financial year.