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

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

Yesterday, 22:42
Trees like this one will be removed from Wisbech market place

One of the biggest changes since it was acquired by the town council three years ago is under way with the removal – and replacement- of trees on Wisbech market place.

Yesterday, 22:41
park and ride map

Passengers using the park and ride into Cambridge city dropped by nearly three times the numbers predicted following the introduction of a £1 parking charge last year.

Yesterday, 17:00
Victoria Garner at the Wisbech Grammar School fashion show. Picture: TIM CHAPMAN.

Wisbech Grammar School pupils showed their flair at a fashion show with a difference - the outfits on display were made out of rubbish.

Fri, 18:50
 Miss Cambridgeshire Amber Twell at the Wisbech rose fair. Picture: Steve Williams.

She’s our very own ‘jewel in the Fenland crown’ so where better for Miss Cambridgeshire to spend part of the day than at Wisbech Rose Fair.

Most read stories

Most commented stories

Digital Edition

Image
Read the Wisbech Standard e-edition today E-edition