Newspaper group profits fall 30%

A newspaper and magazine publishing group that is axing a third of its editorial staff in Norfolk has reported a 30% fall in profits to �22.2m.

Archant owns publications in Norfolk, Suffolk, Essex, Cambridgeshire, Hertfordshire and Buckinghamshire.

The firm made �31.8m profit last year and blames a drop in recruitment and property advertising for the fall.

Chairman Richard Jewson said he expected difficult trading conditions to continue throughout the year.

Published figures show the company's newspaper and printing profits fell by 32% to �16.2m, while magazine profits are down 18% at �5.8m.

E-mail this to a friend

Printable version