Haymarket reports record year with profits up 5%

by Nikki Sandison, Brand Republic 30-Jun-08, 09:30

LONDON - Haymarket Media Group has reported a record year with profits up 5% as it continues to strengthen its magazine portfolio with the acquisition of Windpower Monthly and Compliance Week.

Haymarket has unveiled record turnover of £247m in its results for the year ending December 31 2007, up 1% on last year. Profits before tax increased by 5% from £30.3m to £31.7m.

Haymarket said that all of its business activities and especially its overseas offices experienced growth in 2007, its 50th anniversary year.

The company has acquired Windpower Monthly, a leading international magazine for the wind energy sector, and its sister publication the WindStats Newsletter.

The titles will complement Haymarket's growing environment portfolio, which includes the Ends Report and the Ends Europe Daily.

In the US, Haymarket Media Inc acquired Compliance Week, a leading provider of corporate governance, risk and compliance information for financial and legal executives at public companies in the US.

Lord Michael Heseltine, chairman of Haymarket, said: "I am pleased to report another record year for the company in 2007 after a very strong 2006. All our business activities and especially our overseas offices experienced growth in 2007, our 50th anniversary year.

"We have continued to develop the breadth of products we offer to our specialist communities of professionals and enthusiasts, particularly online."

The company invested £18m last year in new products and acquisitions, which included Pistonheads.com in the motoring market, PressXchange.com in the print market and CaravanSiteFinder.co.uk in the caravanning market.

Haymarket continued to invest heavily in online activities across the group during the year and, in 2007, this area represented 8% of turnover and 13% of profits, fuelled by the success of sites such as What Car? and Brand Republic.

The latest two acquisitons add to a string of buys that Haymarket Business Media made in 2007. This included Nursery World magazine in June 2007 and its corresponding website nurseryworld.co.uk, Waste & Minerals Planning and DM News in the US.

Haymarket Consumer Media posted record level profits for 2007 and was restructured to bring greater focus to brand management within its chosen markets through multiplatform content delivery. Women's monthly Eve had another good year and Haymarket recently sold its sixth overseas licence.

Customer publishing arm, Haymarket Network, also had a strong year with a major win from Sony to produce a quarterly magazine for customers selling Sony as a total entertainment brand.

Brand Media, led by Rufus Olins, managing director, and responsible for publishing titles including Campaign and Marketing, enjoyed another record year. In recognition of his contribution to these and earlier successes at Haymarket, Olins was promoted to the Haymarket Media group board.

Comments

Mark Doherty - 30/06/2008

I noticed the report in the Sunday Telegraph Business News yesterday. Not usual practice for a privately owned company to announce it's results so openly. The Sunday Telegraph emphasised the shareholding as almost completely 100% owned by Lord Heseltine and his Family Trusts. I am thinking that, with such an open announcement, Haymarket is being positioned for the "Market" that is to say a Stock Market Quote ... if so that's great news. I will have to set aside some dosh to take advatage of any Public Share Offering, as will no doubt most of those within the Advertising and Marketing and Publishing sectors, by virtue of the fact that Haymarket is an absolute "gem" of a company, and represents an excellent long term investment ...one to put away for the grand children. Or am I completely "Bonkers" well if I am not, then I expect 2010 to be around the time to watch for an announcement ...so start saving in readiness.