Oakley: 'Regionals have underlying strength'

Regional Independent Media profit before tax increased by 9 per cent to £11.5m for the quarter and by 12.2 per cent to £34.7m in the first nine months of 2001.

Commenting on the results, RIM chief executive Chris Oakley said: "Given the uncertainties over the economy and the devastating events of 11 September, we are encouraged by the continued growth in profit and margin. Slower revenue growth has been balanced by careful cost control.

"At a time when companies in many sectors are performing below expectations, these results demonstrate the underlying strength of well-managed regional newspaper companies."

By Jean Morgan

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