Home Counties Newspapers, publisher of the Hampstead and Highgate Express, has released financial results for 1995. They show that pre-tax profit for the group has risen from £1.675m in 1994 to £1.721m in 1995. Turnover also increased, from £26.6m to £29.2m, and earnings per ordinary share rose from 10.74p to 11.73p.
The Chairman’s Statement points out that 1995 was a year of relatively strong growth despite rising raw material costs. Advertising expenditure however started to slow in late 1995 and has been disappointingly flat in the early months of this year, particularly in retail and property advertising. There is evidence of growth in recruitment advertising.
HCN also took over the Herald Newspaper Group in November. This move was delayed for a month by an Office of Fair Trading investigation, which added to the slower-than-expected growth rate for 1995.
HCN: 01727 811 911
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