Gold Greenlass Trott Results

Gold Greenlees Trott has announced results for the year ending April 30 1994. Pre-tax annual profits dropped by 28% from £4.3m to £3.1m. The group also revealed top-level management changes, which will see co-founder and joint chairman Michael Gold leave at the end of this month. Peter Quinnen, former chairman of stockbroker James Capel is joining as a non-executive director.

Michael Greenlees, chairman, said that GGT had “survived the most difficult period for the advertising industry for many years.” Overall revenues increased 3.1%, with advertising down slightly. Below the line activities increased however.

GGT’s share were up 5p by 11am this morning to 182p.

PPA MEETING – INDUSTRY GOALS DEFINED

At the PPA Annual General Meeting held yesterday John Matthews, PPA chairman outlined the key goals for the magazine industry. He said that the fact that there are more magazines in circulation now than at the start of the recession is “some reflection of the underlying strength, flexibility, imagination and creativity of our magazine publishing community”.

He stressed that it is imperative for consumer and business publishers to defend their market share of advertising as new electronic publishing opportunities evolve over the next few years. However, publishers must also focus on the role they will play in the multimedia environment of the future.

On the subject of new media forms, he highlighted the unfairness of the fact that television shows can be transformed into magazines, but magazine brands are prevented from being extended into television shows. Changing this is an aim for the future.

PPA 071 379 6268