Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Harrington makes a good read

Gail Counsell,Business Correspondent
Thursday 10 March 1994 00:02 GMT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

EXPECTATIONS that Harrington Kilbride, the specialist publisher, would make a big acquisition last year have yet to be fulfilled, but its managing director Kevin Harrington said that organic growth is strong enough to sustain the group's rapid expansion.

'We have looked at companies but have yet to find one that's suitable,' he said. 'With the sort of growth we are putting on, it's got to be really good.'

Star performers in the consumer magazine division last year were Baby, which has increased publication from quarterly to bi-monthly, and Healthcare, until recently available only in doctors' surgeries but now sold through newsagents.

However, the main area of growth was in Harrington's contract publishing and its international magazine divisions. It added six magazines to the contract publishing operation during the year, bringing the total to 20. This makes Harrington the second-largest contract publisher in Britain after HHL.

A strong performance from international publications, including Interactive, a multi-media magazine, and European Marketing Decisions, also helped pre-tax profits to rise by almost 30 per cent to pounds 2.4m on turnover up 54 per cent to pounds 23.8m in the year to 31 December.

Earnings per share increased 31 per cent to 15.5p, and the dividend rises by nearly 9 per cent to 4.5p, with a 3.5p final.

A pounds 1m share placing at 219p last October has helped gearing down from more than 70 per cent to around 43 per cent.

The shares closed unchanged at 183p.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in