Ahead of the year end on 30th September, 2012, this statement provides an update on the Group's progress in the current year. It covers the eleven month period to the end of August 2012 and includes comments on September, where appropriate.
Summary
- Solid Group revenue performance, up 3% underlying
- Good growth from B2B operations, up 8% underlying
- Resilient revenue performance at Associated, up 1% underlying; circulation and digital revenue growth largely offsetting print advertising weakness
- Active portfolio management; targeted acquisitions and disposal of non-core assets
- Net debt expected to be less than £700m at year end; net debt/EBITDA ratio less than 2.0
- Outcome for the year in line with market expectations
