Newscom, which used to be called Southern Newspapers (see Newsline) released its interim results this week for the twenty-six weeks ended 16 December 1998.
The group reported a 17.8% increase in turnover, rising to £70.1 million. Earnings per share were 25.30p, and pre-tax profit stood at £9.3 million.
Newspaper advertising revenue rose by 9.1% for the group, achieving a total of £11 million for the period. As well as this, circulation of the group’s titles increased by 10.3%.
John Dux, chief executive of Newscom, commented: “We have embarked on a two year programme which started in June 1998 to implement fundamental changes to re-engineer the business. Our core message is that we are investing now to build for the future.”
Newscom has submitted a bid for the Portsmouth & Sunderland newspaper group to the Department of Trade and Industry (DTI), along with Johnston Press and Score (see Newsline).
Newscom: 01703 424424
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