Archant has reported a mild upturn in 2007, with a revenue increase of 2.1% to £98.5m for the six months to 30 June 2007.The regional publisher has pursued a dual growth strategy across print and online, with the web business responsible for much of the boost.
Excluding this year's acquisitions and disposals, revenue was up 2.75% and operating profit 1.12%. Total operating profit was up 8.6% to £10m, but operating profit before exceptional items and amortisation of intangibles was up by only 0.9% to £14.5m.
Archant chief executive John Fry said recent negative sentiment about the sector and high-profile disposals had given the false impression that regional local publishing is in decline.
"The challenge is greater than it has been, but that doesn't mean that the sector is fundamentally flawed," he said. "Archant has put considerable strategic focus on changing our business to deal with changes in local marketplaces."
Archant has invested in a network of internet-based classified sites tied closely to its print and online brands, and this helped win back share in the recruitment advertising market.
"Our web audiences are growing in excess of 50% a year," Fry said. "The advertising revenue we generate from those audiences is also growing. Our local magazine business is showing audience growth, revenue growth, and an increasing number of the titles delivering profits as they become established."
Source: printweek
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