Southnews, publisher of 58 paid-for and free newspapers in London and the Home Counties, has announced record financial results for the year ended 28 March 1998.
Pre-tax profits at Southnews rose 17% year on year to £7.4m while revenues rose 18% to £43.6m. It was also announced that the restructuring of the acquired United Southern titles (see UNM Sells Regional Titles To Southnews) has been completed.
In a cautious statement about ad revenue, Southnews said that “it would be unwise to rely on the prospects of high rates of advertising growth continuing indefinitely and the Board has accepted a cautious budget for volume and yield growth in the next year.”
On the group’s prospects for the year, Gareth Clark, chairman of Southnews, said: “Given a stable outlook, and considering the benefits expected to accrue from the acquisition of United Southern Publications, the Directors view the future with confidence. The financial year has started particularly well and the Board anticipates a satisfactory outcome for the year as a whole.”
Southnews: 01932 566311
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