Fast-expanding regional publisher Southern Newspapers posted a big leap in profits as it unveiled plans to change its name and move to the main stock market.
The company is planning to change its name to News Communications & Media, which in turn, will be shortened to NewsCom. This change has to be approved by shareholders at the group’s next annual meeting, by which time the company hopes to have a full listing on the Stock Exchange.
In the year to 27 June Southern made a pre-tax profit of £24 million on £127.9 million turnover. This compares with £14.1 million on £105.4 million during the previous 12 months.
The Southampton-based group, best known as the owner of the Southern Daily Echo, said it had found little evidence so far of a downturn in business.
Southern Newspapers: 01703 424 777
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