International sales helped to boost pre-tax profits at magazine publisher Haymarket by 22% in 2002, the company has announced.
Haymarket said the figure rose from £20.4 million in 2001 (see
City News) to £24.9 million last year. Group revenues totalled £172.3 million, up 6.8% overall.
The company publishes more than fifty business and consumer magazines in the UK but according to chairman Michael Heseltine, 25% of turnover now comes from overseas markets.
“Our international growth strategy has been built on titles which already have a strong base in the UK, and which have a global appeal to our advertiser customers and the end readers,” he said.
Haymarket is cautiously confident that profits for 2003 will be well over £20 million, and not short of the 2002 figure.
