Scottish Radio Holdings’ press division has seen profits from continuing operations increase by seven per cent, to £7.4m, in the past year.
Its total revenues, excluding exceptional items, went up by three per cent this year, while its profit margin stayed the same as last year, at 27 per cent.
Score Press, which publishes 43 local weekly newspapers in Scotland, Northern Ireland and the Republic of Ireland, saw like-for-like advertising revenues rise by five per cent and circulation revenues increase by eight per cent.
The division saw a drop of eight per cent in other revenues, such as contract printing.
The figures were announced as Scottish Radio Holdings unveiled its preliminary results for the year ending September 30.
The company as a whole made £12.8m profit, compared with £14.3m last year, the strength due mainly to the publishing division.
SRH chairman, Lord Gordon of Strathblane CBE, said that the group’s press division produced a resilient performance in challenging market conditions.
He said: “It is encouraging that press revenues grew in the year and radio revenues out-performed the industry as a whole and were the same as last year.
“In the new financial year both like-for-like radio and press revenues are ahead of the same period last year. Our long-established policy of maintaining a strong balance sheet has allowed us to develop both divisions further during the year.”
In the past year the division has added to its weekly newspaper portfolio, and on March 13 aquired the Irish newspaper, the Longford Leader, for £5.7m.
The company also publishes Morton Newspapers, Ballymena Times, Ballymoney Times, Banbridge Leader, Carrick Times, Coleraine Times, Dromore Leader, Farm Week, Larne Times, Londonderry Sentinel, Lurgan Mail, Midulster Mail, Portadown Times, Tyrone Times, Ulster Star, Kilkenny People, Nationalist & Munster Advertiser, Tipperary Star, Leitrim Observer, Longford Leader, Brechin Advertiser, Deeside Piper, Donside Piper, Forfar Dispatch, Inverurie Herald, Kirriemuir, Mearns Leader.
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