Tindle Newspapers has reported record-breaking pre-tax profits of £6.4m for the year until the end of March 2004.
The figure is up more than £1m on the previous year’s figure of £5.3m and ahead of the budget figure of £6.2m.
Sir Ray Tindle, speaking at the preAGM lunch on Tuesday, said: “We doubled the rate of growth in the second six months compared with the first six, and April and May show no sign of slackening. We have never moved as fast as we have these last months.”
He told his staff: “Let us continue on the current lines – let us launch more titles and buy if the opportunity occurs. We have a superb team and sufficient resources to do so. That same team and those resources are amply good enough to beat off any competition which threatens in any part of our circulation areas, and to counterattack into the opposition’s area.”
Tindle Newspapers now has 172 weekly and monthly titles. It has bought the Sunday Independent in Plymouth and three other newspapers from Newsquest and launched 25 new titles.
By Jon Slattery