Portsmouth And Sunderland Newspapers Profits At £9 Million

Portsmouth and Sunderland Newspapers has announced pre-tax profits for the year ended 30 March 1996; this is a slight reduction on last year’s total of £9.3 million. Profit before tax was £18.6 million, including a £10 million exceptional profit on the sale of the Croydon Advertiser Group in December 1995.

The Group confirmed that in the future it is to invest in its core newspapers but also to develop services for new media such as audiotex, cable television and the Internet “to remain the principal provider of local news and information in each of its publishing areas.”

Newsprint prices are 50% higher than they were two years ago; at the same time advertising revenue is only showing relatively slow growth; “in response the Group is taking action to reduce costs and improve operational efficiencies, while simultaneously improving editorial content and readership”.

Portsmouth and Sunderland Newspapers plc: 0171 938 3039