Regional newspaper publisher Newsquest has announced pro-forma pre-tax profits for the year ended 31 December 1997 of £52.3 million. This is an increase of 84.9% on 1996’s pre-tax profit of £28.3 million.
The company, which floated itself on the Stock Exchange in October and set financial targets (subscribers see Sharewatch W/E 17/10/97), managed to beat its own profits targets by £2.7 million. Operating profit stood at £70 million, up 42.9% year on year. Earnings per share at Newsquest were also up from 11.0p last time to 17.8p.
Executive chairman Jim Brown says that the company is on course for ‘another successful year in 1998’. In 1997 the company bought Westminster Press and merged it into the Newsquest Media Group (subscribers see Newsquest Buys Westminster Press For £305m).
Newsquest Media Group: 0181 640 8989
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