SMG is prepared to play a full part in the “exciting changes” about to hit the media industry, the group’s chairman has told investors.

Don Cruickshank also said the group, which publishes The Herald, the Sunday Herald and the Evening Times, was performing in line with the board’s expectations.

He said that advertising revenues for the group as a whole, which also includes TV, radio and magazine interests, were down by five per cent in the first quarter, but were expected to rise again by the half-year mark.

He said: “The advertising downturn that began in the last months of 2000 and deepend for much of 2001 has now been with us for more than 18 months.

“This is a cyclical industry and periods of downturn are inevitable. However, the advertising market has become more stable in 2002.”

He said the most significant external event recently was the publication of the draft Communications Bill, which looks set to deregulate the industry.

He said: “We are well placed to capitalise on the opportunities that it promises to present to the UK communications industry as a whole.”

Do you have a story about the regional press? Ring 0116 227 3122/3121, or
email [email protected]

Back to the Analysis index