Highbury House Sees Some Profit Growth, But Below Expectations
UK publishing group, Highbury House Communications, this morning said that it is still on target to improve profits for the full year, despite the continuing poor conditions in the business advertising market. Nevertheless, profits are still likely to be ‘somewhat lower’ than current market forecasts.
The group says that budgets for next year have been prepared on the assumption of continuing difficult advertising conditions, particularly in the business sector. The consumer sector, on the other hand, is predicted to show additional growth, resulting from “the ongoing development of key products and greater newsstand sales efficiencies.”
Highbury says that these factors, together with the full year benefit of cost reductions achieved in the current year, should ensure that 2003 will be another year of growth.
Shares in Highbury House were down by 0.25p at 11.75p by mid-morning today.
