Adscene Reports Turnover Of £26.2 Million

Adscene, the regional newspaper publisher of titles such as The Faversham Times and The Dover Express, has released its interim results for the half year to 28 November 1998.

The group reported a group turnover of £26.2 million (1997: £26.87 million) and pre-tax profit stood at £2.4 million (1997: £2.9 million). Earnings per share on continuing business are 6.55p.

The interim results were impacted upon by the selling of a substantial part of its commercial printing division, Flair Press, which it described as a non-core and a drain on Adscene’s management resources (see Newsline).

Chief executive of the group, David Fordham, commented: “The prospects for the group have been significantly improved following the disposal of Flair by removing exposure to a business with high capital demands, high operational gearing and low yields relative to publishing. Management will be able to focus on the Group’s publishing businesses, that have shown notable improvement over the last two years, and to concentrate effort on building core revenues alongside growth opportunities.”

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Adscene: 01227 767 321