Revenues for the six months to July 2 were up 7.5% at £99.2m, compared with £92.3m in 2004. Operating profit in the same period, before exceptional items and amortisation of intangibles, was down £0.4m at £17.5m compared with £17.9m last year.
Archant's magazine divisions, Archant Specialist and Archant Life, reported an increase in turnover of 46.6% to £21m, while magazine operating profit was up 37.3% at £1.4m.
The acquisitions, earlier in the year, of Romsey Publishing Group and the London lifestyle magazines from Highbury House contributed £5.7m revenue and £0.3m operating profit.
Archant said that despite a difficult advertising and circulation market, its regional newspaper business, including titles such as Eastern Daily Press, Ham & High and Camden Times, saw revenues rise slightly rising 0.3% to £78.2m.
Archant chairman Richard Jewson said that pre-tax profits for the group were lower due in part to the increased interest charge of £1.9m arising from the financing of the recent share buy-back scheme and to exceptional costs of restructuring and discretionary pension increases of £1.1m.
"Since strong trading in January, the market, particularly in recruitment and motors, has tightened and these figures reflect the impact of a difficult trading period.
"While the Archant board is taking a cautious view of the immediate outlook for advertising revenue, we have a range of tremendously strong titles and we have a committed staff throughout the group to enable us to rise to the challenge," Archant said.
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