IPC Media announces increase in profits
IPC Media, publisher of Marie Claire and Loaded, posted full-year pre-tax profits of £15.1m, up from £2.8m, following a year of restructuring under new chief executive Sly Bailey.
LONDON (Brand Republic) – IPC Media, publisher of Marie Claire and Loaded, posted full-year pre-tax profits of £15.1m, up from £2.8m, following a year of restructuring under new chief executive Sly Bailey.
The results, which include a 2.1% increase in revenues to £378.9m, puts the company in a strong position for a possible flotation, which chairman David Arculus said could take place by the end of 2001.
Advertising revenue increased by 8% but circulation revenue was down £6.3m to £15.1m.
IPC said that following its restructuring it will concentrate on improving lads’ magazine Loaded, which has been overtaken by Emap rival FHM. Loaded is currently without an editor.
IPC recently appointed Mike Soutar, a former editor of FHM in the UK and Maxim in the US, as managing director of its music and sport division in a bid to strengthen the business.
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