It's the Leader of the pack
Published 29/06/2003 | 00:11
THE Longford Leader turned in profits of over ?1m last year, according to accounts filed with the Companies Office. The regional newspaper was bought by Scottish Radio Holdings for ?9m in February last year.
The figures mark a considerable improvement on the previous year, with the company's profit and loss account ?900,000 in the black, compared with a deficit of ?136,000 the previous year. The Longford Leader 's performance must be something of a relief for the media company, which went on an expensive Irish buying frenzy in the last two years. SRH mopped up shares in Today FM for ?54m and splashed out almost ?36m on the Kilkenny People. Scottish Radio Holdings, which also owns the Leitrim Observer and Tipperary Star, recently saw group profits for the first half of the year more than double due to a pick-up in advertising. The company reported that Today FM was performing "extremely well" and the weekly papers were also doing well. Irish advertising has not been as badly hit as other markets, it added. The Leitrim Observer recently reported profits of ?176,000 in the year to September 2002.