High Ad Revenue Boosts Portsmouth And Sunderland Newspapers

Local publisher and retailer, Portsmouth & Sunderland Newspapers (P&SN), cited favourable economic conditions and boosted ad revenue as reasons for a 47% increase in pre-tax profits to £11 million for the year ended 28 March 1998.

The group also announced a turnover of £176.5 million, up 17% from 1997’s £151 million. Earnings per share stood at 18.1p, up from 14.5p.

The P&SN chairman, Richard Storey, is to retire from the company after 25 years and says: “This strong performance, ahead of market expectations, results from the successful and continuing development of P&SN’s two core businesses – local publishing and local retailing.”

P&SN recently won the contracts to print at Sunderland the North-East copies of The Sun and News Of The World and at Portsmouth the relaunched Sunday Business.

P&SN publishes 20 newspapers: four paid for dailies, seven paid for weeklies and nine free weeklies. It also has 194 convenience shops, mainly in the south.

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Portsmouth & Sunderland Newspapers: 0171 590 6610