Partly Cloudy

Partly Cloudy

max temp: 8°C

min temp: 5°C

ESTD 1874 Search

East Anglia: Increased profit for community media company Archant

01:00 07 March 2014

Richard Jewson, chairmn of Archant.

Richard Jewson, chairmn of Archant.

Archant

Community media company Archant, whose titles include the EADT, has announced an increase in annual operating profit to £9.4million.

shares

The figure, before amortisation, impairment and exceptional costs, for the year to December 31 represents a rise of 49.2% compared with £6.3m in 2012.

Turnover for the year was down 3.6%, at £126.6m against £131.4m. Net debt at the year-end stood at £6.8m, down from £15.7m a year earlier, reflecting strong cash generation.

Archant chairman Richard Jewson said the results had been achieved “despite continuing industry challenges and with little help from the economy.”

He said: “Our traditional newspaper businesses improved profitability year-on-year. However, challenges in our magazine businesses caused a decline in magazine profitability.

“Significant efforts have been placed on monetisation of our digital offerings, resulting in a 19.3% increase in digital revenues to £7.2m.”

Cost management, together with a reduction in newsprint costs, saw total operating cost savings of £7.9m, with continued investment in training for the sales forces and in new product development.

“We will continue to shape the business to the changing requirements of our customers, who, of course, are also feeling their way into this changing world,” said Mr Jewson. “Whilst we expect to see an improvement in our revenues this year, economic growth will inevitably give rise to cost pressures.”

shares

0 comments

Macmillan has been adopted by builders' merchant chain Ridgeons as its chosen charity until the end of 2017.

Regional timber and builders merchant chain Ridgeons has raised £15,254 in the first year of its two-year partnership with Macmillan Cancer Support.

Charity evening on the ice at Winter Wondeland in Colchester

Suppliers, small businesses and individuals have “little chance” of getting any of the quarter of a million pounds they are owed from the collapse of Colchester’s outdoor ice rink.

Keith Norman, Fred. Olsen Cruise Lines’ business development manager (back row, centre) launches the company'’s sponsorship of Suffolk FA’s Walking Football initiative at Whitton Sports Centre in Ipswich.

Fred. Olsen Cruise Lines has become a sponsor of Suffolk FA’s Walking Football initiative.

Sam Parnell and Max Shelley of Measured Brilliance

Digital Marketing ‘meetup’ group SIMS teams up with Measured Brilliance and Ipswich Borough Council to help businesses in 2016.

developer John Howard

Town centre homes plans for important Ipswich town centre site close to the Waterfront

Most read

Fred Olsen Travel Sale

cover

Click here to view
the Fred Olsen
Travel Sale

View

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Great British Life

Great British Life
MyDate24 MyPhotos24