Newscom Announces “Excellent” First Quarter Results

Newscom yesterday announced a 53.6% rise in operating profits for the first quarter of this year. Profits rose to £8.4m during the 14 weeks before 1 April this year. This figure includes the Christmas to New Year week, but with this discounted, the increase would be 64.7% to £9m.

Pre-tax profits increased to £7.9m, compared to £4.5m in 1999, while earnings per share, rose by 51½p to 19.7p, excluding exceptional items. Publishing turnover rose by 12.3% and on a like-for-like basis, advertising revenues were ahead by 8.6%.

All Newscom’s major titles are said to have increased or held circulation and revenues from sales rose 10.6%. A new weekly paid-for title, the Weekly Echo was launched by the group’s Bournemouth publishing centre in February. Meanwhile the Hampshire Chronicle, which was acquired by Newscom in November last year, has produced profits 87.3% above the same period in 1999.

Newscom: 01703 424 777