Publisher of the Bermuda Sun, MediaHouse Limited, has reported first half-year profits of $2,955,964 which were boosted by a change in the way it deals with directory sales.

The company, which has a number of business units in Bermuda including Island Press, said the profits were thanks to "aggressive business development, strategic expansion, steady revenue growth and expense control."

The group's Bermuda-based subsidiaries showed results that appear to justify the decision to consolidate operations on Elliott Street as well as diversify the company through the purchase of Bermuda.com and start up of MediaHouse ASP.

Last September the board and management decided to change its accounting policy for revenue related to directory sales causing a shift in the timing of revenue recognition resulting in additional directory revenue being recognised in the opening six months of the current fiscal year instead of the second six months.