Archant Enjoys 7.5% Increase In Revenues For First Half Of 2005

Media group, Archant, has announced a 7.5% increase in revenues for the first six months of 2005, reaching £99.2 million, compared to £92.3 million in 2004. Operating profit was shown to be £0.4 million lower at £17.5 million, while pre-tax profit was also down, by 19.5% year on year, at £13.3 million.

The group’s magazine divisions, Archant Specialist and Archant Life, enjoyed an increase in turnover of 46.6% year on year to £21 million, while magazine operating profit was up £37.3%.

Archant’s newspaper and printing revenue saw a rise of 0.3% at £78.2 million, including £0.5 million from the Property Mart titles acquired in March 2005 from Highbury House Communications.

Commenting on the group’s results, Richard Jewson, Archant Chairman said: “Since strong trading in January, the market, particularly in recruitment and motors, has tightened and these figures reflect the impact of a difficult trading period.”

Jewson continued: “While the Archant Board is taking a cautious view of the immediate outlook for advertising revenue, we have a range of tremendously strong titles and we have a committed staff throughout the group to enable us to rise to the challenge.”

Archant purchased the combined portfolio of Highbury Local Publications from Highbury House earlier this year, making the deal for £6.1 million in order to acquire the firm’s portfolio of six monthly lifestyle magazines and the three Property Mart titles operating in and around London (see Archant Acquires Highbury Local Publications).

Archant : 01603 772803 www.archant.co.uk