Dundee-based newspaper and comics publisher DC Thomson paid out dividends of £19.8 million to its family owners last year despite a fall in profits, up from £19.2m in the previous 12 months.
The publisher of the Courier and the Evening Telegraph in Dundee, the Press & Journal and Evening Express in Aberdeen, and the Beano comic, revealed profits fell to £24.2m from £30.1m in the year to end-March 2016. Revenues rose 12 per cent to £275m.
Chairman Andrew F Thomson said the year had seen stability in publishing revenues, adding: “Our newspaper and magazine businesses continue to perform well in the current market. Despite newspaper advertising declines, profitability was ahead of last year.
“Progress is being made to supplement declining advertising revenues with new lines of business in the digital and events business as well as launching both generic and licensed titles.”