Including the first full-year's contribution from Regional Independent Newspapers, pre-tax profits improved from 92.7m to 128m on turnover up 15% to 491m.
Chairman Roger Parry stated that it continues to very actively seek acquisition opportunities that would mesh with our existing portfolio of businesses and to pursue organic growth through a range of new in-print and online initiatives.
Investment in 2003 concentrated on improving the groups presses, systems processes and publishing portfolio, which Parry said had resulted in the seventh successive annual circulations increase for Johnstons core weekly titles.
Johnston publishes 241 local and regional newspapers, making it the fourth largest in the market it claims. It has a claimed market share of 14.4% by numbers of copies sold and distributed.
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"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."
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