Smiths News finds that it pays to diversify
Thursday 18 April 2013
Smiths News, Britain's biggest newspaper and magazine distributor, reported a 6 per cent jump in half-year profits to £19.9m as its policy of diversifying into books, education and care products boosted turnover.
Its chief executive Mark Cashmore said the newspaper arm's revenue fell 3.9 per cent, partly because of price-cutting on Sundays as The Sun has been selling for half the price of its predecessor, the News of the World.But magazines dived 8.3 per cent as consumers cut spending. "Magazines are a discretionary purchase," explained Mr Cashmore, who has argued for some time that shoppers are tiring of celebrity news.
He stressed newspapers and magazines had maintained profits despite falling sales. "The way we consume media is changing but the markets we operate in are still large and very resilient," he said, noting 9 million print newspapers a day are sold in Britain. Group turnover rose 1.3 per cent to £905m.
- 1 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 2 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 3 Ball pool for adults opens in London
- 4 Game of Thrones season 5 trailer: The first full-length look is here
- 5 Rashida Jones speaks out against male-centric porn saying 'women should have sex and feel good about it'
Mia Khalifa: Pornhub star claims Drake sent her 'cringeworthy' naked photos on Instagram
Boris Johnson claims porn-obsessed Islamic jihadists are 'literally w*****s'
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Putin opponent reveals Russian President's daughter's secret identity
Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...