Archant - publisher of The Cambs Times, Wisbech Standard and Ely Standard- announce almost 50pc rise in operating profit for 2013

01:00 07 March 2014

Richard Jewson, chairman of Archant

Richard Jewson, chairman of Archant


Archant, the community media business and publisher of The Cambs Times, Wisbech Standard and Ely Standard, has announced a healthy increase in operating profits for the last year to £9.4m.

In a preliminary statement to shareholders, chairman Richard Jewson said results in the year to December 31, 2013, saw operating profit before amortisation, impairment and exceptional costs at £9.4m (2012: £6.3m) up 49.2% on full year turnover down 3.6% at £126.6m (2012: £131.4m).

These were achieved, said Mr Jewson “despite continuing industry challenges and with little help from the economy”.

Net debt at the end of the year stood at £6.8m (2012: £15.7m), reflecting strong cash generation in the year.

Mr Jewson said: “Our traditional newspaper businesses improved profitability year-on-year. However, challenges in our magazine businesses caused a decline in magazine profitability. Significant efforts have been placed on monetisation of our digital offerings, resulting in a 19.3% increase in digital revenues to £7.2m.”

Cost management, together with a reduction in newsprint costs, saw total operating cost savings of £7.9m, with continued investment in training for the sales forces and in new product development.

“We will continue to shape the business to the changing requirements of our customers, who, of course, are also feeling their way into this changing world,” said Mr Jewson.

“Whilst we expect to see an improvement in our revenues this year, economic growth will inevitably give rise to cost pressures.”

More news stories

41 minutes ago

Whether it’s been faulty sat navs, misjudgement or driver error but exasperated traffic cops finally blew off steam tonight after another vehicle hit the bridge at Ely rail station.

Yesterday, 13:00

County councillors gave their backing – but by the narrowest of margins- to the reintroduction of grammar schools into Cambridgeshire.

Yesterday, 17:28

War time bomber veteran Harry Irons was the guest speaker at the monthly meeting of the National Service (Royal Air Force) Association.

Fri, 14:48

Two thieves have been caught on camera stealing around £300 worth of diesel from a coached parked on the forecourt of Towlers Coaches, Church Road, Emneth.

Most read stories

Most commented stories


Show Job Lists

Digital Edition

Read the Wisbech Standard e-edition E-edition

Newsletter Sign Up