Dennis Publishing profits climb 53% to £3.6m

Dennis Publishing, the company behind magazines including The Week and Men's Fitness, has reported pre-tax profits of £3.6m for 2010.

Dennis: magazine publisher's pre-tax profits hit £3.6m
Dennis: magazine publisher's pre-tax profits hit £3.6m

The publisher improved on its showing in 2009, when its profit dropped by £1.7m from 2008, to £2.4m.

The bottom-line increase came on the back of strong top-line growth of 8.9% to £72.7m, including acquisitions and joint ventures.

Dennis disclosed that £1.4m was added to the top line by acquisitions. During the year, it acquired Web User from IPC and Health & Fitness from Hubert Burda Media.

Operating profit excluding joint ventures, such as the magazine subscription marketing company Dovetail, nearly doubled to £3.8m.

The highest-paid director, believed to be either chairman Felix Dennis or chief executive James Tye, received £387,000 during 2010, compared to £319,000 in 2009.

Dennis acquired Women's Fitness magazine from Vitality Publishing in July.

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