Scottish publisher DC Thomson and Company has reported a year of continued progress, with total revenue up more than £30million at £275.4million.
The Dundee-based firm said yesterday its
newspaper and magazine businesses maintained good performances during the year to March 31, 2016.
Chairman Andrew F Thomson added: “Despite newspaper advertising declines, profitability was ahead of last year.
“Progress is being made to supplement declining advertising revenues with new lines of business … as well as launching both generic and licensed titles.”
DC Thomson-owned Aberdeen Journals, publisher of the Press and Journal and Evening Express, suffered a 17.8% fall in advertising revenue due to the oil and gas slump but mitigated the impact on profits with cost-cutting measures.
Circulation revenue at the subsidiary was slightly ahead of last year, but overall turnover was 8.3% lower at £27million and pre-tax profits fell 3.4% to £6.8million.
DC Thomson turnover was boosted by the first full-year contributions from the company’s Shortlist Media and Wild & Wolf businesses.
An office opening and other investment in the US, new licences and sourcing infrastructure expansion in Hong Kong and stability in the firm’s book and genealogy divisions were also highlighted.
The group reported pre-tax profits of £24.2million for the year, down from £30million previously.
A spokeswoman for the company said: “Trading operations have been affected by challenges to revenues but the core publishing business continues to trade well in comparison to the company’s peers and competitors.”