Newsquest‘s Glasgow Division, publisher of the Herald, Sunday Herald and Glasgow Evening Times, is expected to report operating profits of £22.9 million for last year – down £1.5 million on 2005.
The published accounts are not available through Companies House until 31 October but the Evening Times and the Johnston Press-owned Scotsman today reported that they show an after tax profit of £17.6 million. Some £15.6 million of this has been paid to American publishing giant Gannett, Newsquest’s parent company.
According the Evening Times, the accounts say: ‘The company operates in a competitive and dynamic environment where maintaining and developing the interest of the audience is critical to its commercial success in attracting advertisers and readers.
‘Competing newspapers and alternative media, including the internet, impact the company’s ability to grow revenues.
‘The company manages this competitive risk by continually seeking to ensure its products meet the needs of the communities they serve and investing in internet-based services.”