It follows a lift in EBITDA from the media business for the six months to the end of December of $2.6 million, versus $700,000 in the previous year.

Revenue from the media business also increased by $1 million to $12.6 million, while cash on hand more than doubled to $1.93 million from $770,000 for the same period in 2009.

With total liabilities of $20.47 million, which comprises $12.6 million as current liabilities and $7.86 million in non-current liabilities, net assets were valued at $22.94 million.

The group paid back $1.25 million in bank debt and is currently finalising an extension of its financing facility to push the term to the end of 2012, but expects to repay a further $1.25 million under the revised facility over the coming six months.

“Our media results and the uplift we have seen in the first half of 2011 is the result of general market recovery, a reduced reinvestment program and overall stronger management of our cost base,” Aspermont chief executive Colm O’Brien said.

“In addition, we are seeing extremely strong growth out of Aspermont’s internationally successful and growing conferencing platform.”

The Australian arm of the group contributed revenue of $3.85 million from the print business, with the online services adding a further $2.06 million and events $960,000.

Its UK arm, particularly the events business, kicked in @£1.82 million ($A2.9 million), with print adding @£1.48 million and online @£590,000.

Aspermont also became the sole shareholder of agricultural information provider Kondinin Information Services in January, which has already delivered annual cost savings of $500,000 with a further $250,000 expected by the end of next month.

The acquisition was completed using internal funds and is expected to add $3 million in revenue in 2011-12.