Haymarket Publishing reports increase in profit and reduced debt following sale of HQ
Haymarket Publishing filed its annual accounts today (5 January), reporting an 8.7 per cent rise in operating profits to £5m (from £4.6m in 2014). The international media group, founded by Lord Michael Heseltine, owns 70 brands globally including Stuff, Autocar, FourFourTwo and MediaWeek.
The rise in operating profits is credited largely from the sale of its headquarters in Teddington, which enabled a reduction of net debt by almost 80 per cent.
Haymarket claims their financial success was driven by a growing demand for online content; in particular the motoring segment that houses its ‘Pistonheads’ platform, along with specialist contract-publishing and medical and Read full story ›
Source: The Drum
