Southnews Announces 5% Profit

Southnews, publisher of paid-for and free newspapers in London and the Home Counties, announced a pre-tax profit of £6.5 million in its interim results today, an increase of 5% on the same period last year. Earnings per share increased 6% to 21˝p and operating margins were reduced to 20.5% from 21.9%.

During this period the group has increased its titles from 61 to 64 and upgraded its page make-up equipment. Despite weak advertising volumes during summer, a good recovery was made in the preceding months.

Chairman Gareth Clark said: “The improvement in business this autumn has rapidly converted to strong results for the company and the Board anticipates that the steady growth currently being experienced will continue and, on this basis, expects a satisfactory performance for this year.”

Southnews: 01932 566311