Wednesday, 3 February 2010

The Guardian's national newspaper division lost £36.8m in 2008-9

"Guardian Media Group today reported major losses of almost £90m as it complained that its national newspapers and websites were operating in the "toughest trading conditions seen for many years". The group's regional newspapers suffered plunging profits while the radio business made a significant loss.
In its annual report for 2008-2009, GMG, which publishes The Guardian and The Observer newspapers, reported a pre-tax loss of £89.8m, compared with a profit last year of £306.4m, on turnover which was down to £405.4m compared with £502.1m.
Guardian News & Media, the group's national newspaper division, reported an increase in operating losses to £36.8m, compared to £26.4m in 2008, on a reduced turnover of £253.6m compared with £261.9m."
Source: Official Guardian accounts, reported by The Independent, 31st July 2009
The figure of £36.8m loss equates to £100,800 per day.

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