Telegraph & Argus owners, Newsquest Plc, today announced an 84.9 per cent leap in pre-tax profits in its year-end results.

The group, which acquired the T&A and its sister papers when it bought Westminster Press at the end of 1996 announced pro forma results including pre-tax profits of £52.3 million compared with £28.3 million last time. Its operating profit rose 42.9 per cent to £70 million compared with £49 million previously.

This was on a 4.8 per cent rise in turnover to £279 million compared with £266 million last time.

The company, based in Morden, Surrey, said the pro forma financial information gave a "more meaningful indication of underlying performance" because of the number of changes which had occurred in 1996 and last year.

The group, which is refurbishing its presses at Bradford & District Newspapers headquarters in Hall Ings this year, raised £100 million before costs when it floated on the Stock Exchange last October.

Jim Brown, the group's executive chairman, said today: "These results represent an outstanding performance, particularly given that they were achieved in a year of considerable additional pressures, notably the integration of the Westminster papers and preparation for flotation."

The results statement said its advertising revenue grew 7.1 per cent and the year saw a strong performance in the circulation of its newspapers.

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