Mining Journal > Finance > 'Sustained' growth for MJ's parent company

Finance

The parent company of Mining Journal, Aspermont Ltd, recently announced a 19% increase in revenue from its media business to A$24.98 million (US$25.8 million) for the year to end-June. EBITDA soared from barely A$0.9 million in 2009/2010 to A$3.43 million.

The Perth-based company's other mining publications include Mining Magazine (which celebrated its 100th anniversary two years ago), Australia's Mining Monthly, ResourceStocks and Mining, People and the Environment.

Aspermont also owns the highly successful Mines and Money series of conferences (which are held every year in London, Hong Kong, Beijing and now Sydney), and launched the 'Excellence' series of conferences in Australia in 2005.

The company has been active in the online B2B-information sector for nearly ten years with its flagship MiningNews.net.

Thanks, in large part, to the success of the group's events, Aspermont reduced its bank debt by A$1.63 million during 2010/11 to under A$5.88 million. Cash in hand at end-June was A$2.72 million.

Group chief executive officer, Colm O’Brien, commented that the media business had continued to grow "through a blend of strong margin management and a focus on new product launches across events, print and online channels".

Mr O'Brien noted, however, that whilst the media business has had "continuing improvements", the net consolidated figure has been "distorted by movements in our investment book". As a result, the attributable net profit was down 85% at A$0.16 million.

The company's investments are used to generate non-operational cash flow for growth strategies. The CEO of Aspermont UK, David Nizol, who is responsible for the international mining publications and events, noted that planned expansion includes a broadening of the Mining Journal news service to an around-the-clock capability in the near future.