Northcliffe profits increase

Profits increase at Northcliffe despite recession
by holdthefrontpage staff
From Hold the front page website
Profits have increased year-on-year at regional publisher Northcliffe Media despite the recession, according to a statement issued by its parent company today.
The interim mangament statement issued by DMGT revealed that total revenues at Northcliffe for the last quarter of 2009 were down 15pc on the previous year.
However with costs falling by 18pc, it meant that the group turned in a higher operating profit than in the final three months of 2008.
"The continuing transformation of Northcliffe's cost base resulted in UK publishing costs being 18pc lower than last year. As a consequence, profits were up on the previous year," said the statement.
Advertising revenues across the group were 13pc lower than in the same period in 2008, compared with a year-on-year decline of 18pc in the previous quarter.
However digital revenues were 11pc higher year-on-year, with property, motors and retail performing strongly.
DMGT as a whole also saw a year-on-year revenue decline of 15pc during the three months to 31 December.
Chief executive Martin Morgan said: "Trading has been ahead of our expectations and the new calendar year has started well, but we remain cautious about the outlook for the rest of the year."
"We continue to manage the business actively to defend profitability with the focus on driving organic growth remaining our priority."
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