Scottish Provincial Press, reckoned to be the biggest newspaper group in northern Scotland, boosted profitability in the latest year against a difficult market backdrop.

The Inverness-based operation increased operating profits by 8% to £2.343m in the 52 weeks to September, compared with the preceding 52 weeks.

The growth occurred during a period in which Scottish Provincial Press managed a 4% increase in turnover, £15,017,210, from a stable of 12 titles, which includes the John O'Groats Journal and Caithness Courier.

While the industry has seen circulation and advertising revenues come under pressure in recent years, Scottish Provincial Press managed to widen gross profit margins to 46.1%, from 45.6%, in the latest 52 weeks.

In addition to sharing in dividend payments totalling £383,000 in the year, the success will have boosted the paper fortunes of the group's shareholders, who include some of the UK's wealthiest newspaper owners.

Veteran press baron Peter Fowler has a majority stake in Scottish Provincial Press, by virtue of his controlling interest in the Peter Press Group.

Lord Iliffe, who has a 20% stake in Scottish Provincial Press, is a member of the family which owns the Yattendon Trust. This combines property holdings with a portfolio of media investments including local newspaper groups in southern England and the Channel TV operation.