Regional publisher Northcliffe Media has reported a 1pc like-for-like rise in circulation revenues over the past year in its latest trading update issued today.
Figures covering the period October 2011 – August 2012 show Northcliffe’s revenues declined overall by 10pc, with circulation revenues down 5pc.
But the company says that allowing for newspaper closures and the decision to switch four regional dailies to weekly publication, underlying circulation revenue grew year-on-year by 1pc.
The statement, issued by parent company DMGT, also reveals that headcount fell by nearly 300 during the period from 2,531 to 2,233 – a drop of 12pc.
Northcliffe closed two titles in November – the East Kent Gazette and the Medway News – after the Office of Fair Trading blocked a bid to offload them to the KM Group.
In addition the Scunthorpe Telegraph, Lincolnshire Echo, Exeter Express & Echo and Torquay Herald Express have all gone weekly over the past year.
Today’s report states that the 1pc increase in underlying ciriculation revenues reflected the benefit of cover price increases.
It also said there was a “continued focus on efficiency” at Northcliffe with costs reduced by 14pc over the year.
Commenting on the group’s results as a whole, DMGT chief executive Martin Morgan said: “DMGT has delivered a solid revenue performance over the year to date, driven by continued strength in our B2B operations.
“The consumer business delivered a resilient performance and also benefited from incremental revenue from the Olympics. We expect our full year results to be in line with market expectations.
“Going forward our focus will remain on driving organic growth, operational and financial efficiency and pursuing an active portfolio management approach.”
Sign up for our free daily email bulletin
Follow HTFP on Twitter
Got a story? Email the Editor at
Revenue boost?! There are three kinds of lies: lies, damned lies and (newspaper) statistics.
Report this comment
The story of the day for me (so far) is that no job losses have been announced by Johnston Press. There are 14 hours left in the day, however…
Report this comment
What’s that smell. Horses? Pigs? Sheep? Oh silly me………..it’s the subtle aroma of Bull.
Report this comment
Is Northcliffe Media still up for sale?… silly me, of course it is, just another upbeat press release!
Report this comment
What are ‘underlying circulation revenues?’ As opposed to overlying circulation revenues, I suppose?
Report this comment
So get shot of 300 salaries, shut a couple of offices and cut back the cost of others, bung the price up, interpret the accounts and you make a little bit of money. Astonishing!
Report this comment
I calculate at the current rate Northcliffe will have zero employees by 2020. The underlying circulation revenue will have increased by 1000%.
Report this comment