Profit down 29 per cent at Archant

Publisher saw profits rise during the second half of the year.

Newspaper publisher Archant has reported 29.4 per cent drop in operating profit in the last financial year to £10.4m

Turnover in the year to 31 December was down 3 per cent from £139.3m to £135.1m, while operating cash flow remained stable at £13.1m and net debt was reduced by a quarter to £17.4m - the company said.

The company did, however, report a much stronger performance in the second half of the year. In the six months to 31 December group operating profit was said to be up 1.6 per cent to £7.8m on turnover down 2 per cent to £67.8m.

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