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Sullivan influences Daily Sport upturn |
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Tuesday, 09 June 2009 |
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Manchester-based Sport Media Group, the publisher of the Daily Sport has released a trading statement today, which shows that there has been a slight uplift in sales. It’s been a turbulent 12 months for the company, which earlier this year went back to David Sullivan to turn its fortunes around.
The new honorary publisher has had a “positive impact” according to the release, with sales in May going up to levels last seen in November 2008. This means an average of 75,000 copies a day on weekdays.
The weekend papers have also gone up slightly, despite an increase in cover prices.
SMG is confident that advertising revenues will rise as a result.
Major cost cutting across the Group to generate annual savings of £700k has seen a number of redundancies in Manchester.
However, these are set to end with the company now seeking “a number of other non-staff savings.”
These have included negotiations with suppliers to reduce printing costs.
At Board level non-executive chairman, David Bailey has announced his retirement, and he’ll step down once a replacement has been found.
Group financial director Andy Fletcher, will also be leaving the Board as of next month.
New members are expected to be announced over the coming year.
The company won’t be paying dividends until its debts of £12m have been "significantly" reduced.
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