More profit at newspaper group PCM

Newspaper and book publishing group PCM booked net profit of €24m last year, up from €6.4m in 2006. Turnover rose 1% to €644.3m, due partly to disappointing growth in recruitment advertising. PCM publishes the Volkskrant, NRC and Trouw newspapers and is joint owner of the AD.

PCM also said it is looking at a variety of ‘strategic options’ for its educational publisher ThiemeMeulenhoff and does not rule out an outright sale. ThiemeMeulenhoff accounts for 10% of group sales.
The company, which is owned by foundations since British private equity group Apax pulled out last year, said advertising revenues so far this year are in line with 2007, which is below expectations.

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