Newspaper Society president Tim Bowdler has said Britain’s regional newspapers are the only medium to have increased revenue every year for the past decade.
In an upbeat annual report for 2002/2003 he said: “It illustrates their remarkable stability and resilience.”
Advertising expenditure in the regional press increased by a third in 2002, readership was growing and half of all regional titles increased sales, with weeklies leading the way.
“Despite continued economic uncertainty in the UK, prospects look encouraging for the industry in 2003 and beyond,” he said.
The society, which represents nearly all regional and local publishers, made a £52,116 surplus in the year ended December 2002.
With an added £24,466 from a restatement of the previous year’s surplus, the society ended up with a total gain of £76,582.
Its total income was £3,690,404, down from £4,021,638 in 2001, but its expenditure was also down at £3,670,052 from £3,954,553. The ensuing £20,352 surplus before taxation was supplemented by a tax rebate of £31,764 to make up the £52,116.