IPC Defies Ad Revenue Expectations With 6.9% Growth

IPC has defied the Advertising Association’s forecast of 2.1% growth in consumer magazine advertising revenue by revealing year on year growth of 6.9% for the last two quarters.

In what chief executive Sly Bailey described as a “Solid set of interim results”, net profit before tax for the half year to March 2001 was reported at £3.8m, up £2.1m on the previous year.

Circulation revenue at the publishers rose by 0.8% year on year. The period saw the launch of two new titles, home internet title Web User and older women’s titleYour Life . However, the same period also saw the end for veteran women’s title Women’s Realm (see IPC’s Woman’s Realm To Disappear In Favour Of Your Life), the closure of Nova for the second time in its history (see IPC’s Relaunched Nova To Close) and the merger of Melody Maker with NME (see IPC To Close Melody Maker). The company showed no regrets at this slash and burn policy today, saying “IPC has an aggressive launch strategy and requires each brand to meet revenue and profit expectations. An important part of this approach is the strength to take decisive action and close unviable titles.”

The company also announced the first major projects for its recently formed events division (see IPC Media To Invest In Exhibitions And Events Business). Four live events: the Inspired Roadshow by Essentials and Family Circle, the Gorgeous Roadshow by Now, 19 and Hair, the Woman & Home Experience and the Woman and Evans Feel Good Roadshow will take place across the country in summer and early autumn. IPC hopes to tap into its magazine portfolio’s reach of 73% of all women in the country.

IPC: 020 7261 5000 www.ipc.co.uk

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