An Irish publishing company says it is researching the financial viability of producing the country's first porn magazine – featuring pictures of naked women from all over Ireland. A Line Publishing recently began advertising for models and for short stories for the new publication. A website is also currently under construction.

A spokesman for A Line publishing said the company was "testing the water to see what the response to the new magazine is and establishing if there is a market for the product."

One advertisement states, "An Irish publishing company seeks female models for an Irish adult magazine. Preferably we are seeking submitted imagery and payment will be made for published photography only. Good rates paid for published images. All enquiries are kept strictly confidential and all imagery is protected by the data protection act."

It is understood one possible name for the magazine is Peter.

Their website, with a picture of the outline of Ireland superimposed with a model and a red lipstick mark, says the publication is "coming soon".

Alan Hayes, a spokesman for Publishing Ireland, said the magazine had a high chance of success in Ireland.

"There is a market for a publication like this at the moment, and it would be the first of its sort so the indicators are positive," he said. "Given the number of sex shops and the success of magazines like Playboy, it could turn out to be quite a lucrative venture for the publishing company."

He said, however, that some Irish publishing companies are suffering the effects of the recession, with falls in revenue up to 40%.

"It is a very tough time for publishers. What seems to be doing well are the likes of economy books, and publications of a cultural interest.

"Sales are still strong enough, but people aren't buying like they used to. They are more of a luxury item than they were before, but the high quality factual books have been quite successful."