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, 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 (see Highbury House Loss Hits £25.7 Million).
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