View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. News
March 7, 2014

Archant reports profit rise despite falling revenue

By Paul McNally

Regional publisher Archant has claimed an almost 50 percent rise in operating profits in 2013 despite a fall in revenue.

The group said it had issued a statement to shareholders informing them that profits rose to £9.4m last year. This is up 49.2 percent from the £6.3m profit achieved in 2012.

According to Archant, group turnover last year was down 3.6 percent to £126.6m – while digital revenues grew by 19.3 percent to £7.2m.

Net debt fell 56 percent to £6.8m by the end of the year and cost savings amounted to £7.9m over the year, the group said.

The publisher's full accounts have yet to be filed with Companies House. The results for 2012 were published last September.

Archant chairman Richard Jewson said the results were positive "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.

Content from our partners
Publishing on the open web is broken, how generative AI could help fix it
Impress: Regulation, arbitration and complaints resolution
Papermule: Workflow automation for publishers

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

Jewson added: "Whilst we expect to see an improvement in our revenues this year, economic growth will inevitably give rise to cost pressures."

Topics in this article :

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network