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Sport Media Group sees the positive despite turnover dip |
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Tuesday, 27 October 2009 |
Turnover at Sport Media Group has dropped by 22% to £22.9m following a turbulent time at the publishing company, which has also seen underlying operating profit drop to £0.3m from £6.4m.
Publishing the interim results, chief executive officer, Andrew Fickling commented:
 Sullivan
The last 6 months have seen the return of David Sullivan as honorary publisher and additional funding from Gold Group International. The company has also sold off men’s magazine, Front, to “re-focus the management on the Group’s core publishing and digital businesses.”
Chairman David Bailey wrote in a statement to the stock exchange: “the Board is now confident of the survival of the business, and the Group is achieving consistent monthly profitability and positive cash generation.” Something to add? Then leave a comment below or email us now.
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