Archant Sees Profits Slip In ‘Challenging’ 2005

Community media specialist Archant has reported a dip in profits for 2005, blaming the downturn on a “challenging year for the regional newspaper industry.”

According to a trading statement issued this morning, Archant’s operating profit is down by 12.3% year on year for 2005 as a whole, leaving the company’s total at £31.6 million.

In a statement to shareholders, Archant chairman Richard Jewson blamed weak economic growth and a dip in retail spending for the poor trading conditions.

The media boss stated that a “slowing” of the advertising market in the recruitment and motor sectors, coupled with a 6% increase in newsprint prices, were contributing factors to the company’s declining profits.

Not all sectors of Archant’s business suffered profit downturns, however, with the company’s contract publishing division recording a 49.9% increase to £5 million.

“Despite the difficult trading conditions, and with change occurring within the regional press industry, there are opportunities for those who, like Archant, are in a position to pursue them,” Jewson explained.

Archant : 01603 772803 www.archant.co.uk