A boost in turnover for newspaper and TV group SMG is being put down to its newly-acquired Ginger Media venture.

The Glasgow-based company’s preliminary results show that sales rose by 24 per cent to £300.5m, which includes the first 10 months of business from Ginger Media.

Pre-tax profits in the company, which used to be called Scottish Media Group, in the 12 months to December 31, 2000, rose by 18 per cent to £59m.

As well as its broadcasting interests, SMG publishes three newspapers: The Herald, the Sunday Herald and the Evening Times, as well as seven magazine titles including lifestyle magazines, industry and specialist publications.

SMG chairman Don Cruickshank said: “The year 2000 was a transforming one for SMG, witnessing a period of significant development for the Group.

“We continued to expand, emerging as a significant player in UK media, touching the lives of millions of viewers, listeners and readers, and once again generated record pre-tax profits, reaching £59m.

“We maintain a sharp focus on the future and are confident that we are well positioned to take advantage of any opportunities that we identify in the fast-changing world of communications, while continuing to satisfy the information and entertainment needs of our customers.”

But he warned that economic slowdown in the US and the prospect of a general election in the UK have made many advertisers more cautious.

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