£1m boost for magazines chief

MAGAZINE magnate Felix Dennis, one of the defendants in the celebrated 1971 Oz magazine obscenity trial, took more than £1m out of his company last year.

Dennis, who has a personal fortune of more than £400m, is chairman and controlling shareholder of Dennis Publishing, which focuses on computer and motoring magazines and high-profile titles such as lads' mag Maxim.

Profits surged 22% last year to £612,000 and turnover almost doubled to nearly £57.7m after acquisitions.

The company's highest paid director, thought to be Dennis, was paid £259,217. He also received £927,000 in copyright royalties.