For the full year results to December 31 2003 the company reported turnover up by 8% on 2002 to 158m, while operating profits improved 6.1% to 29.4m. Pre-tax profit increased 13.9% to 27.8m.

Its magazines include specialist titles such as Photography Monthly and Pilot, while its Life series includes a number of county titles and French magazines. The company publishes 60 magazines and 40 websites in total.

The privately-owned community media group also owns four daily newspapers and more than 85 weekly titles with a combined circulation of 3m copies a week.

Archant chairman Richard Jewson said: The economic outlook for 2004 is still uncertain. However, overall, we expect moderate growth in newspapers and a further improvement in magazine profitability.

The company announced that it was looking for further acquisitions capable of enhancing shareholder value.

Last October Archant announced a 12.5m upgrade to its existing newspaper press capacity at Norwich following a strategic review of its operations.

The two new Goss towers, taking the total to six, are expected to be completed in the next few months. It will increase the capacity at the Thorpe print centre in Norwich by 50% and improve the colour availability.

Archant also bought 27 weekly newspapers in the London area at the end of 2003 that did not affect the results. These titles are still printed at Newsfaxs plant in East London and will remain there for the foreseeable future, according to a company spokesman.