Haymarket’s profits jump 8.7 per cent after online and US expansion
Digital generated one third of the international media group’s £184.3m turnover in the 12 months to June 2015 and it is on course to hit 37 per cent in the current financial year.
Festivals, awards, conferences and exhibitions, known as FACE, rose to 17 per cent of sales last year, and should be 19 per cent in the year to June 2016, the company said.
FACE is particularly important in emerging markets such as Asia where it is contributing 40 per cent of sales.
By contrast, print generated only 46 per cent across the group last year, down from 61 per cent in 2012, when Haymarket first launched its Group Growth Plan to transform the business. Print is set to fall below 40 per cent this year.
Haymarket described its performance as “encouraging” and said: “The improvement in operating profit was driven primarily by growing demand for online content, notably in the motoring segment where Haymarket’s popular Pistonheads platform continued to expand, as well as for specialist contract publishing and medical and pharmaceutical business information, notably in the US”
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