Archant, the regional newspaper group, has announced that its overall revenue in the 26 weeks to the end of June was up 2.1% at £98.5 million (2006: £96.4 million).
The group reported a 64.6% rise in pre-tax profits, owing in part to a £3.8 million profit it made in April when it sold its Scottish newspapers to Johnston Press for £11.2 million (see
Johnston Press Completes Purchase Of Archant’s Scottish Titles).
Operating profit before exceptional items and amortisation of intangibles increased by 0.9% to £14.5 million (2006: £14.4 million).
John Fry, Archant chief executive, said: “We have demonstrated that tight cost control, on the low growth areas of the business, allows you to invest in higher growth activities. Our web audiences are growing in excess of 50% a year.
“The advertising revenue we generate from those audiences is also growing. Our local magazine business is showing audience growth, revenue growth, and an increasing number of the titles delivering profits as they become established.”
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