Sport Media Group posts £6m in profits
Sport Media Group, the company behind the Sunday Sport and Daily Sport newspapers, has revealed bumper profits of £6m.
The pre-tax total was announced following some significant editorial and management changes.
The company appointed Murray Morse to be the editor-in-chief of Sport Newspapers in July, and in June chairman Simon Hume-Kendall said he would be stepping down from his position.
“Encouraging responses” were being seen to the changes implemented by Mr Morse, the firm said.
It was also announced David Bailey, who joined the board in March, will become chairman with immediate effect.
Mr Hume-Kendall will remain a non-executive director, and the board said in a statement it wanted to express thanks for his leadership, saying it was “very pleased” that he would remain involved.
More news on the firm’s progress is expected to be revealed when annual results are published in November.
Officials also said they were optimistic for the Group’s prospects for the coming year despite well-publicised issues surrounding national daily newspapers.
The company also publishes digital content for internet and mobile channels, and announced the acquisition of Flip Media Ltd in June of this year.
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