How-Do reported that Hopkins, the former chairman of direct marketing agency JDA, took up the position towards the end of last October, when he was set to be charged with identifying agency targets for the acquisitive group and growing its Creation offering.

However, since then the focus of the company appears to have changed from marketing to publishing – an observation borne out by its recent acquisition of free lifestyle title The Magazine.

Speaking to Hopkins yesterday he confirmed that this was the case.

Hopkins

“They have aspirations in publishing now, which I don’t, so I think the time was right to move on.”

A statement to the market from Plus-registered Alvaston yesterday told the same story, noting that the development was “in the best interests of the company” and that Hopkins would now be focusing on his new business interests.

This includes his new take on recruitment agencies, Agencybods, which launched this month.

In a separate statement to the market, Alvaston said that the firm, which bought The Magazine for £7000 plus VAT, had reported a pre-tax loss of £138,000 pounds for the half year to 31 January on revenues of 179,000 pounds, with cash resources of 84,000 pounds at the end of the period.

It added that "a platform for growth has been put in place” which it now believed would lead to improved trading conditions.

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