IPC has released results for the year which has seen a revival of the past – in the form of the Nova relaunch and an embracing of the future with the success of digital brand unmissabletv Profit before tax for the company, which introduced a new, brand-focussed strategy in June, reached £15.1m, compared to a 1999 figure of £2.8m. Total revenues including joint ventures increased by 2.1% year on year, reaching £387.9m, while debt was reduced from £550.5m in 1999 to £527.3m.
Commenting on the results, Sly Bailey, chief executive, said, “This has been a year of success and change. We have articulated a clear and focused strategy for the group, and we have recruited a series of talented and respected individuals to build a top class management team.”
Advertising revenues, including joint ventures, increased by 8% for the year. IPC believes that it has to thank the high cost of TV advertising in part for this. Overall, its top 20 clients are said to have increased their advertising spend by 27% year on year.
The last 12 months has seen some deflation of the dotcom bubble, with a number of high profile sites biting the dust. This has led to some companies such as Emap and News International cooling their enthusiasm for digital investment. In contrast, IPC has enjoyed some success in this area and existing shareholders are preparing to make a further £15m equity investment in digital strategy.
Digital success has been particularly apparent with the unmissabletv brand, which already provides TV listings for Yahoo! for the BT Cellnet and Virgin WAP services and to AvantGo for PDA devices. Today IPC announced an partnership deal with NTL to embed the brand into NTL’s cable and PC platforms early next year. A new commercial director, Andrew Horton, has also been appointed. He was previously business development director within IPC Electric.
