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Record results for PA Group

The Press Association – now trading as PA Group Limited – has announced record profits for the past year, up by 19 per cent to £5.7m from £4.8m in 2004.

Group turnover also increased by 19 per cent from £69.7m to £82.9m as acquisitions and growth added to group revenue.

The new name was brought in last year to “more accurately reflect the diverse business activities” of the company.

The Press Association name continues to be used for the news agency and editorial services division.

Group chairman Sir Harry Roche said: “I believe these results demonstrate the progress we are making with our strategic aim of becoming a broadly based international information business.

“I am optimistic that the expansion of our business, both nationally and internationally, and the increase in our product range, will enable us to continue our growth.”

Chief executive and editor-in-chief Paul Potts said: “These results are encouraging. However, we have to keep focused on becoming ever more efficient, relevant and alert for opportunities in a rapidly changing, as well as challenging, market. I am confident that we can continue our progress.”

During 2005, PA bought Meteo Consult, Sportev, Sport Services Group and All Action Digital.

Meteo Consult adds international weather information to PA Group’s premium information services, Sportev provides video capability to PA Sport’s internet and mobile phone operations, while Sports Services Group supplies information to the sport governing body community. All Action Digital’s celebrity photography complements the Group’s existing news and sport picture content.