Home Counties Newspapers said that last year’s failed takeover attempt by Johnston (subscribers see Johnston’s Agreed Newspaper Takeover Blocked) had wiped £205,000 from its annual profits. Consequently pre-tax profits fell from £3.2 million to £3 million. Turnover, however, rose from £37.3 million to £38.4 million.
While Johnston Press is understood to be keen to renew its bid for the group, which includes the Hampstead & Highgate Express , Home Counties has said that it has been approached by a number of parties and is currently considering its options.
A statement from chairman Bill Gibbs said that trading and profits for the first twelve weeks of the current year have been “very encouraging.”
HCN: 01727 811 911
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