Regional publisher Northcliffe Media has more than trebled its half-yearly profits to £12.3m according to a report by parent company DMGT today.

In its half-yearly results, DMGT reports that although revenues in the group fell 7pc year-on-year to £132m, profits rose by 8.9m or 262pc.

Circulation revenues were also down 7pc at £33m, with nine of the group’s daily titles increasing their cover prices in the period 1 October – 4 April.

The report also revealed that headcount across the regional newspaper group was reduced by 143 over the same period, contributing to a 15pc reduction in operating costs.

Commenting on DMGT’s results as a whole, chief executive Martin Morgan said trading in the first half of the year had been ahead of expectations.

“Our UK consumer businesses have achieved a sharp improvement in profitability reflecting the actions taken to reduce costs and to eliminate loss-making activities, but also thanks to an improved advertising market. We remain focused on driving profitable organic growth across the Group,” he said.

“Whilst we remain cautious about the outlook, particularly in the UK, we are increasingly well positioned to weather current economic uncertainties and to take advantage of improved conditions as they materialise.”

Comments

Cooper (27/05/2010 11:57:43)
Wow ! but didnt the profits of the Notts post group alone used to be as much ?

Lily Marlene (27/05/2010 15:35:32)
Thank you Northcliffe for putting loyal workers on the dole. I hope you enjoy your bonuses while they struggle.

Johnston Press Worker (27/05/2010 16:17:34)
I love these “good news” stories spun by companies that suddenly fall silent when pressed for a comment on why they are slashing their resources. Johnston Press, Trinity Mirror, Northcliffe – remember, even bad journalists are taught how to cut through that waft of bull mess and get to the real point. Northcliffe must be so proud – but better stick to sparkling wine to save a bit more cash eh?

Andy (27/05/2010 17:44:24)
Ahh, a drop in headcount. Would that be ‘staff’ in old money?

All Subbed Out (28/05/2010 09:35:28)
Will a single penny of the increased profit be invested back in the grass-roots resource that really matters in quality local journalism – i.e., people? Naah, didn’t think so. Enjoy trousering your bonuses, directors, won’t you?