For the year ended December 2019, group turnover increased by 78% to £18.6m and operating profit of £1.8m was up 41%. At the end of 2019, the group had net debt of £0.9m.
It was a year of further progress for the group. It acquired a majority stake in AA Media Ltd in the UK as well as the acquisition of a portfolio of trade magazines in the construction sector in the US. AA Media Ltd is a joint venture with AA plc and has three operations: inspection and certification services, publishing and retail and e-commerce. Its inspection and certification services have a licence to operate under the AA brand and inspect and rate accommodation providers and restaurants across Britain. It also operates the VisitEngland assessment scheme. The book publishing business produces AA branded atlases, maps and travel guides. The retail and e-commerce business receive royalty income from a range of AA branded car and road accessories through online channels and physical retailers. It also operates a physical store at the Eurotunnel terminal at Folkestone which sells AA merchandise.
Following the year end, the impact of Covid-19 has affected our businesses and we have had to take appropriate measures. We are grateful for the commitment of all our colleagues and our main responsibility has been to safeguard the health and well-being of employees.