Political magazine publisher Huveaux has reported flat pre-tax profits for 2008 but said it was confident its performance would improve as the general election nears.
The group, which publishes The House magazine and Public Affairs News, reported a marginal drop in group revenues on a like-for-like basis, down from £28.1m to £27.9m. Like-for-like pre-tax profits were flat at £3.1m.
The House reported a “small drop” in 2008 revenues, but Huveaux said a decline in display advertising was offset by an increase in events and digital revenue.
“While there were no major elections in our political markets in the year, the continued rise of the Conservative Party in the UK has increased the need for political lobbying activity and has resulted in a signiï¬cant increase in revenues around the party conference season,” the group said.
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Revenue in the political division, which includes The House, was up 7.6 per cent from £16m to £17.2m.
Huveaux chairman Kevin Hand said the group was confident that the run-up to the general election in 2010 would lead to a further rise in events revenue.
“Our political division is now well-established as the leading information provider in its market and we believe it will continue to show good organic growth as we move towards an election year in 2010,” he said.
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Huveaux was founded in 2001 and employs about 500 staff in London, Paris, Brussels and Edinburgh.
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