IPC is believed to be preparing for a flotation in 2001. The magazine group announced a fall in its full-year profits yesterday. Pre-tax profits for the year to September 30, were £2.8 million.
The group gained its independence last year when it bought the company from Reed Elsevier with the help of venture capital group Cinven (see IPC Magazines Gains Independence). Still recovering from costs associated with the buy-out, the group has continued to expand and integrate. In recent months it formed a new media division, IPC Electric (see IPC Electric Is Unveiled) and restructured its music titles department (see IPC Restructures Music Titles Management).
Yesterday, announcing its results, the group launched a new web site for women, beme.com, which has been anticipated for some time.
IPC: 0171 261 5000
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