Archant reports drastic decreases in last year's profit

Regional publisher Archant reports profit decreases

Operating profits fell by 32% last year to £15m and turnover declined by 19% to £142m.

However company operating profits doubled in the second half of the year due to cuts and minor improvements in trading conditions.

Chairman Richard Jewson said: "2009 was a most challenging year with significant declines in all advertising categories. The new management team proved well up to the task, taking swift and decisive steps to reduce the cost base and launching a number of new business initiatives."

Archant employs 1,850 people and publishes four daily papers, 60 weeklies, 80 magazines and more than 180 websites.

Source: Guardian

Published on: 08/03/2010 10:09:00