View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. News
August 5, 2011

Archant profit dips to £2.6m for half year

By Andrew Pugh

Regional newspaper publisher Archant saw its turnover and profit fall in the first six months of 2011 but it reported a 1 per cent increase in paid-for circulation revenue.

Turnover was down 4 per cent to £67.3m in the first half of the year while operating profit fell by £4.4m to £2.6m year on year. Newspaper and printing income, excluding acquisitions, was down 7.2 per cent to £44.9m, which the company said was due largely to a 13.2 per cent fall in advertising revenue.

Magazine revenue, however, was up 2.8 per cent to £22.3m, with property advertising revenue up 11.9 per cent and subscriptions revenue up 1.4 per cent. Total digital revenue grew 3.3 per cent to £3.1m – with digital display income up 10.9 per cent.

The company also said the number of unique visitors to the group’s websites had grown by more than a third in the last year to an average 3.6m per month

Despite the declining revenue and profit Archant chairman Richard Jewson said he was optimistic the group would perform better in the second half of the year provided there is ‘no further deterioration in our markets”.

Jewson said: ‘Performance of the business has been adversely impacted by reductions in newspaper print advertising, driven principally by economic factors, government cutbacks and steep increases in input prices”.

He believes Archant’s strategy of growing its paid-for circulation was evidenced by the fact circulation revenue was up 1 per cent – and by the fact that three of its four daily titles and ‘almost all’its weeklies have achieved growth in their paid circulation figures.

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

‘The economy remains fragile, and it is simply not possible to predict when an upturn may be seen, or indeed whether the UK economy will fall back into recession,’he added.

‘But we continue to invest in the development of our people and new products whilst seeking to improve the efficiency of all our processes.”

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