Archant sees 14% digital revenue boost in 2010
Online and mobile revenue was up to £5.4m for the year, during which newspaper earnings fell 5.9% to £92.6m
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Digital revenues at regional publisher Archant increased by more than 14 per cent year-on-year in 2010, according to results released today.
The increase means digital revenues from online and mobile activities last year reached £5.4m. In a release, the publisher claimed that group operating profit for the year had also increased by 157 per cent, from £3.2m in 2009 to £8.2m last year, while turnover dropped by 1.9 per cent to £139.3m.
Newspaper revenues fell 5.9 per cent in 2010 to £92.6m, which the company put down in part to a "significant reduction in public sector advertising".
Magazine revenues were on the up by 3 per cent to £44.9m, boosted by "progress in subscription copy sales", which were up almost 10 per cent.
In a preliminary statement to shareholders, chairman Richard Jewson said he expects digital revenue to continue to grow "as new initiatives are introduced".
"The impact of digital media on our traditional business has grown rapidly since broadband became mainstream and the economic downturn, which started in 2008, has served to accelerate that pace of change.
"Archant has faced the challenges presented by diversifying and repositioning its portfolio of media assets, by pursuing efficiencies, and by accelerating its business development activities to take advantage of the opportunities created."
