Simon Bax reports that the revenue has seen a modest growth, for the first time in eight years, and is set to report a full-year increase in profits for the first time in this period.
Archant have said its profits are ahead of budget and the previous year, despite a difficult industry background, and modest like-for-like revenue growth. Print advertising revenue declines have been affecting Johnston Press, Trinity Mirror and the Daily Mail and General Trust.
They have also said circulation revenue growth was partly because price increases on the daily titles have more than offset circulation declines, and in magazines. During the period, Archant sold three magazines, English Homes, English Garden and Discover Britain. It also has invested in WiSpire, a rural broadband service in Norfolk.
Archant added, Cash generation has continued strongly, with £4million generated in the period and cash on hand of £6.8million at the end of June. In July a new four-year bank refinancing was completed on markedly improved terms than previously
Read the full Archant statement at:
http://www.archant.co.uk/news/archant-reports-revenue-growth-and-strong-start-to/