Scotland’s biggest media company has announced a record pre-tax profit of £50million along with plans for a £10million Internet development.

The Scottish Media group, publisher of the Glasgow Evening Times, The Herald and Sunday Herald, is to set up a family of websites, phased in over 18 months. They will include online news and radio stations, along with classified advertising, ticketing and e-commerce services.

The sites will draw on the group’s newspaper classified advertising business, establishing online sites for jobs, property and car sales.

The group – soon to be known as SMG plc – also owns Scottish and Grampian Television, outdoor and cinema advertising firms and also bought Chris Evans’ firm, Ginger Media, recently for £225million.

Its pre-tax profits, before one-off costs, rose nine per cent to £50million on a turnover of £243million – up 17 per cent.

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