Washington Post Co. profits rose 22 percent in the first quarter of 1979 compared with the same period last year, with all divisions reporting higher revenues and pretax earnings for the recent period.
According to an earnings statement issued by the communications company yesterday, first-quarter profits were a record $8.6 million (54 cents a share) compared with $7.1 million (43 cents) a year ago. Revenues rose 15 percent to $130 million.
Compared with the first quarter of 1978, newspaper division revenues rose 15 percent with advertising linage up 4.9 percent at the company's flagship, The Washington Post; 5.2 percent at the Trenton, N.J., Times, and 9.3 percent at the Everett, Wash., Herald.
Newsweek magazine and book division revenues rose 18 percent; a Latin American edition of the weekly news magazine, which began to accept advertising in January, published 73 pages of ads in the recent quarter.
Post Co. television broadcasting revenues rose 10 percent while income from the firm's investments in affiliates rose from $543,000 to $925,000, mainly because of improved results at Bowater Mersey Paper Co., a 49 percent-owned newsprint manufacturer in Canada.
During the recent quarter, The Post Co. said, it purchased 121,000 shares of its own stock. Since mid-1975, the firm has repurchased 4.15 million shares of common stock.
Media General, Inc., a communications company in Richmond that publishes that city's daily newspapers, also reported record first-quarter profits of $4.8 million (64 cents a share) compared with $2.9 million (39 cents) in the prior year. Revenues rose to $64 million from $58 million.
President Alan Donnahoe said newsprint operations recovered sharply from depressed levels of last year, with pretax profits of $4 million vs. $1.9 million. Broadcast earnings also increased but bad weather and a late Easter had an adverse effect on newspaper operations, where pretax profits were relatively flat.
Macke Co., a vending, food services and furniture firm based in Cheverly, reported record second-quarter and six-month profits and sales for the periods ended March 31. Quarterly earnings rose 8 percent to $1.24 million (41 cents a share) on sales of $65 million compared with profits of $1.14 million (38 cents) and sales of $58 million.
For the six-month perios, Macke earnings were up 14 percent to $2.6 million (86 cents a share) on sales of $128 million compared with profits of $2.3 million (76 cents) and sales of $111 million.
Macke's Family Fish House restaurant chain opened two new units in the quarter, bringing the total to 28. Chairman Meyer Gelfand said recent gains had been achieved despite the negative impact of severe winter snows in many operating areas.