Johnston Press, the Edinburgh-based local newspaper group, is to acquire the Halifax Courier group for £29.4m. Fred Johnston, chairman, said the acquisition was in line with the group’s strategy of extending its geographical coverage by acquiring titles which are local market leaders.
Johnston Press also announced results for the 1993. Pre-tax profits were up by 28% to £12.5m in 1993, helped by a significant upturn in advertising in the last quarter.
WESTMINSTER PRESS RESULTS
Westminster Press has released results for the year 1993. Profits were up by 658% from £1.2m to £9.1m. Hew Stevenson, chief executive, said that the results reflected a rigorous cost-efficiency drive. Advertising revenue rose by 2% year on year, with most gains coming in the second half of the year.
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