Shares in publishing firm I Feel Good soared today as it said sales of its Jack magazine for men had beaten hopes.

The loss-making group, which also publishes Viz, Bizarre and the Leeds, Leeds, Leeds football monthly, said circulation and advertising revenues from the first issue exceeded targets by 22 per cent.

It launched the A5-sized magazine in April while the second issue was in the shops earlier this month. Advertising revenues from the latest edition exceeded its targets by 12 per cent.

From October, I Feel Good will sell the magazine on a monthly basis.

The group, whose chief executive is Loaded founder James Brown, said it had attracted brands such as Prada, Burberry and Paul Smith to advertise in the magazine.

Chairman Alistair Ramsay added: "The challenge now is to maintain momentum for the forthcoming monthly issues and build on its success."

I Feel Good also showed it had cut losses and increased group sales during the past half year. For the six months to June 30, losses were £285,000 against losses last year of £1.1 million, while turnover rose to £3.5 million.

The group said contributions from its Viz, Bizarre and Fortean Times publications, all of which it bought last year, helped support launch costs of Jack.

Sales of Viz rose to £1.4 million from £900,000 as the group increased the number of issues from six to ten a year.

Fortean Times, which focuses on the paranormal, saw circulation increase.

I Feel Good said it had also signed a new three-year licence with Leeds United Football Club to continue to publish their monthly magazine.

Shares in the group jumped 12 per cent to 7.5p following the results.