Mobile revenues jump at Daily Sport

by Staff, Brand Republic 06-Nov-07, 11:40

LONDON - Sport Media Group, the publisher of the Daily and Sunday Sport, has reported a pre-tax profit rise of 24% to £5.4m, driven by soaring mobile revenues.

Sport Media Group, which was created following the acquisition of Sport Newspapers by Interactive World in September for £50m, reported that turnover was up by 24% to £11.3m, compared to £9.1m in 2006.

Profit before tax, before amortisation and share based payments, rose by 25% to £5.4m from £4.3m.

Mobile related turnover reached record levels of £7.7m, up from £6.8m.

Simon Hume-Kendall, chairman of Sport Media, said: "Our existing mobile and internet businesses have continued to perform well and are now benefiting from cross-selling opportunities following the acquisition of Sport Newspapers.

"Further new offerings, particularly in the area of user generated content, are being evaluated and the possibility of a joint venture or acquisition of IP in this area is being considered."

In August, the group signed former Loaded editor James Brown as an editorial consultant. Sport Media said that editorial changes have been well received by the retailers and feedback from initial customer research was good.

It said that the reformatting of the newspapers has now been completed. This includes a shift in editorial focus, which now includes sections such as the 12-page feature on Championship football, published each week within the Sunday Sport.

The papers had been owned by David Sullivan, who sold his 50% share in Sport Newspapers to Interactive World, an AIM-listed adult mobile phone content provider. It then renamed itself as Sport Media.

The remaining 50% stake in the group is owned by Ralph and David Gold, who control the chain of Ann Summers shops.