This compares with EBITDA of $0.9 million in the previous financial year.

Revenue from the media business was up $4.1 million to $25 million while bank debt was reduced by $1.63 million to $5.88 million.

Cash in hand was also up from $0.77 million to $2.72 million though net profit was down 85% to $163,000 due to the impact of changes in Aspermont’s investment book.

Aspermont chief executive Colm O’Brien said the growth was due to a blend of strong margin management and a focus on new product launches across events, print and online channels.

He said that while Aspermont’s net results were distorted by movements in its investment book, it did use its investments to generate non-operational cash for its growth strategies.

“We have solid forward bookings in our media business which are approaching 50% of the group’s annual plan,” O’Brien said. “This includes pre-paid subscriptions, conference bookings and forward advertising across print and online.

“The group is now turning its attention to accelerating organic growth through new product launches, new joint ventures and possible acquisitions.

“We do, however, remain vigilant on current market conditions and will ensure our current reduced levels of debt will remain in place for the moment.”

Aspermont expects a 76% increase in EBITDA to $6 million for the current financial year.