Highbury House Reaps Benefits of 2003 Acquisitions

Profit for Highbury House Communications is significantly ahead of last year, reflecting the impact of acquisitions in 2003 and improved performance from its business magazine sector.

At this morning’s AGM, Highbury House chairman, Ian Fletcher (pictured), told shareholders that Group revenue for the first four months of this year is up 38% on the same period last year.

On a like for like basis, excluding 2003 acquisitions, revenue increased by 2%, with advertising revenue up 4.3%.

Performance of its entertainment portfolio exceeded expectations but this has been offset by increased competition in the lifestyle sector.

Looking ahead, prospects for the year remain favourable. In April, Highbury House reported a pre-tax loss of £25.7 million for 2003.

Highbury House Communications: www.hhc.co.uk

Recent Related Stories from NewsLine Use Of Rich Media Advertising Continues To Grow Price Rises For Sunday Tabloids As Circulations Dip Freeview Pushes UK Multi-Channel Homes To 11.5 Million

Subscribers to MediaTel Insight can access more national and international media analysis, forecasts and executive reports by visiting the site.