Hollinger International Inc. reported second-quarter profits jumped 54 percent, to $6.6 million, or 9 cents per share, from $4.3 million, or 8 cents per share, a year earlier, when fewer shares were outstanding.
The Chicago-based parent of the Chicago Sun-Times and other publications said acquisitions and higher newspaper prices in the United Kingdom boosted profits. Revenues rose 13 percent, to $267.2 million from $235.6 million.
For the six months, profits slumped more than 78 percent, to $2.6 million, or 3 cents per share, from $12 million, or 21 cents per share, in 1995’s first half. The company said higher
newsprint prices and one-time costs associated with sale of an investment, the opening of a printing plant and a magazine startup reduced profits. Revenues rose 13 percent, to $521.1 million from $462.4 million.
