Archant follows Trinity Mirror in announcing improved profits against a background of falling revenue. Cost-cutting made the difference.
The Norwich-based regional publisher says its profit for 2010 increased by a whacking 157%, rising from £3.2m the previous year to £8.2m. But revenue fell by 1.9%, down from £142m in 2009 to £139.3m.
As I reported two weeks ago, several of Archant's publications - including its daily titles in Norwich and Ipswich - performed well in terms of circulation in the second half of 2010.
Chairman Richard Jewson referred to that fact in his statement. But he also chose to highlight the group's improved digital performance.
He said it "has grown rapidly since broadband became mainstream and the economic downturn, which started in 2008, has served to accelerate that pace of change."
He added: "Digital revenue has grown throughout this difficult period, and we fully expect this to continue, as new initiatives are introduced and bear fruit."
As with Trinity Mirror, the advertising story remains bleak. Public sector ads were down and look unlikely to return anywhere near to previous levels, if at all.
Source: paidContent
