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.
- 2 Italian police 'reveal' what Jesus looked like as a young boy
- 3 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
Italian police 'reveal' what Jesus looked like as a young boy
Who should I vote for? The Independent quiz matches best political party for undecided voters ahead of the general election
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian combined with near-naked ensemble
Syria's 'circle of hell': Aleppo residents describe children without heads, streets filled with blood and injuries never before witnessed by surgeons
General Election 2015: Photographic history of Bullingdon Club tracked down - including new picture of David Cameron in his finery
In defence of liberal democracy
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...