The ongoing success of Dennis Publishing’s news digest title, The Week, has helped the publisher see an impressive increase in profits in 2006.
Accounts published at Companies House yesterday showed the publisher’s pre-tax profits leap from £361,000 in 2005 to £2.06m in 2006, with overall turnover increasing from £61.25m to £62.28m.
The Week, which has enjoyed continuous growth since its launch in 1995 and posted a year-on-year ABC circulation rise of 19 per cent to 143,700 this summer, was valued at £46m by the company.
Dennis acquired full control of The Week Ltd in January this year, buying the remaining three per cent shareholding in the company.
The Week’s success is partly owed to pushing subscriptions, with fewer than 10,000 copies at the last ABC coming from the newsstand.
The title’s managing director, Kerin O’Connor, said at the time of the ABC release in August that The Week’s strength lies in making sure that it is part of the reader’s media routine.
Dennis said its online investment, which included the launch of online-only lads’ mag Monkey and ITPro.co.uk, as well as investment in existing web activities, has resulted in the turnover and profitability of its website activities growing significantly in 2006.
Monkey posted a second ABCe of 245,564 in August this year, and although newsstand sales of lads’ mag Maxim continue to dwindle, according to Dennis the brand remains strong – with website monthly unique users of 851,739.