Academic publisher Taylor & Francis' interim profits more than doubled after strong organic growth across the group.

Its two core divisions, books and journals, both reported a jump in sales in the six months to June 30.

The group has offices in Hove, London, Basingstoke Didcot, Stockholm, Oslo, New York, Philadelphia, Singapore and India.

Journals, which represent about 52 per cent of the 204-year-old firm's turnover, announced an 11 per cent rise in profits to £34.2 million. Chief executive David Smith said the arm had benefited from improving existing titles, such as increased frequency, and producing new ones in key subject areas.

This year, the group aims to publish 24 new titles and a further 20 are planned for next year.

In the books arm, sales rose 6.9 per cent to £32 million, despite weak trading conditions in the United States.

Overall, group turnover was able to grow 9.2 per cent to £66.2 million and pre-tax profits rose from £4.1 million to £9.4 million.

The figures included £2.9 million from beneficial exchange rates but still came in above most analyst forecasts and shares rose 2.5p to 467.5p in an otherwise tough session on the London market.

A positive update on current trading also cheered investors.

Mr Smith said: "The group continues to perform in line with our expectations and we are confident 2002 will be another successful year."

Journals were seeing good renewal rates while the group had a strong book publishing schedule ahead of the key autumn season.

Taylor & Francis aimed to continue its policy of growing organically but would consider carefully- selected, earnings-enhancing acquisitions.

The group traces it roots back to 1798 and the launch of the Philosophical Magazine by Richard Taylor.

It now publishes about 700 journals and 1,800 new books every year.