By Lawrence Gosling Incisive Media, the publisher of Investor's Week, has announced a 126% increa...
By Lawrence Gosling
Incisive Media, the publisher of Investor's Week, has announced a 126% increase in turnover in its maiden full-year results for the year ended 31 December 2000.
The results show turnover rising to £16.58m in 2000 from £7.34m in 1999, and an 8% rise in pre-tax profit to £1.82m from £1.68m. EPS rose from 3.57p to 3.77p. It floated on the London Stock Exchange in December.
Incisive Media delivers business information across a variety of platforms to business-to-business and specialist consumer markets. Publications include Investor's Week and Bloomberg Money in consumer markets and Investment Week and Post in business markets.
Incisive Media was formed from the merger of City Financial Communications and Timothy Benn Publishing last year and the flotation raised £9.4m, net of expenses. The shares debuted in December at 143p and have risen as high as 198p. The shares have remained consistently around 172p in recent weeks putting them on a P/E ratio of 38.
Last year Incisive launched seven businessto-business events; two business-to-business publications; consumer title Investor's Week in February; and the annual investor show, Investor 2000, in March. It also acquired a 50% stake in specialist financial conference organiser Training for Profit.
Incisive chief executive Tim Weller commented: "Both underlying businesses have continued their growth through the expansion and development of existing products and new brand launches, despite the merger and flotation.
"Performance in the first quarter of 2001 is in line with our expectations, as we have benefited as a group from the increase in advertising driven by the intensely competitive individual savings account (Isa) market.