Highbury House Starts Year Well

Publishing company Highbury House Communications today offered a cheerful outlook for the year, saying that 49% of its budgeted advertising sales have already been achieved. The consumer and trade magazine group says that it had only a small exposure to the dotcom boom last year and so is not experiencing the downturn that many other media groups currently are.

Group turnover rose from £29.8 million to £77.9 million – an increase of 161%. Of this increase, £41.3 million is attributable to acquisitions made in the year. Group profits before tax, exceptional items and goodwill reached to £8.2 million – up from £2.7 million last year.

Revenue at the company’s WV Interactive Publications (WVIP) – previously just WV Publications – grew by 11%. Its titles cover the UK home entertainment sector and include Home Cinema Choice and Total DVD.

Chairman Ian Fletcher gave a positive outlook for the coming year: “Although there has been considerable mention by commentators of a possible slowdown in advertising revenues, our sales order reports indicate continuing strong advertising sales. In addition, current indications are that circulation revenues for the first half year will be in line with expectations,” he said today.

Stock was up 2½p at 51p this afternoon.

Highbury House Communications: 020 7226 2222