Newspaper publisher records nearly £2m loss from printing firm disposal

Newspaper publisher, Claverley Group has recorded a loss of nearly £2m from the sale of Telford-based Precision Colour Printing (PCP).

After selling PCP to investment firm Hypax in May, recent accounts for the Claverley Group say the disposal resulted in a loss of just over £1.9m.

It also incurred a disposal loss of £550,000 on the freehold property in Wolverhampton housing the Express & Star.

PCP, which reported net assets of approximately £7.15m in its latest available accounts for the year ending 31 December 2022, had seen a decline from £10.75m the previous year due to a £3.6m loss.

Claverley Group has now divested all its freehold property holdings except for the Halesfield site in Telford, where PCP operates.