United Newspapers, owners of Express Newspapers, have this morning released results for the year to December 31. Pre-tax profits for the group were up by £0.28 million, to £138.023 million.
Operating profit breakdown shows the regional papers and magazines reporting an increase in profits compared to last year; the national newspaper division however, reported a decrease. Operating profit breakdown:
Special magazines: £38.1m (£31.9m)
Other periodicals: £37.5m (£25.9m)
Media services: £9.1m (£6.2m)
National papers: £30.8m (£33.7m)
Regional papers: £30.1m (£29.5m)
Discontinued ops: £0.9m (£3.3m)
United Newspapers also announced it is intending to change its name – to United News and Media. The change is to reflect a broadening of its activities after a year in which it spent £153m on acquisitions. Share price was down by 9p this morning to 513p.
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