Sport Media Group is cautious but profits grow

by John Reynolds Media Week 21-Apr-08, 12:15

LONDON - Sport Media Group, the owner of the Daily and Sunday Sport, increased its profits by 48% during the six months to end-January, although it is adopting a "cautious approach" to its expectations for the rest of its financial year.

The multimedia operation, which has just relaunched its Daily Sport newspaper, said its cautious approach was due to the delayed relaunch coupled with the deteriorating macro-economic climate.

The group reported turnover of £14.4m during the six months to January 31, with underlying pre-tax profits increasing by 48% to £3.2m.

Advertising revenues, the group said, were down 8% year on year due to what it termed a general downturn in the adult advertising market.

Last week, Sport Media Group appointed MediaCom North to handle its media planning and buying activities.