New York-headquartered media group Martha Stewart Living Omnimedia yesterday posted Q4 profits more than double those of the same period in 1999, exceeding analysts’ expectations.
The company, managed by lifestyle guru Martha Stewart, announced a pro forma net profit of 12 cents per share ($5.9 million) in the fourth quarter, compared to 5 cents in Q4 1999.
Over the same period, revenues jumped to $85.5m from $71m, driven by a strong performance from the publishing division, whose revenues climbed from $40.6m to $52.6m. This boost was triggered by a 33% rise in ad pages in Martha Stewart Living magazine as well as ad growth in sibling titles Baby and Martha Stewart Weddings.
Full-year results are predicted to show a 10% increase in revenues and a 30%–35% rise in cash flow, with the merchandising arm expected to show the strongest growth.
News source: Financial Times