Friday, 11 June 2010

The Guardian's national newspaper division lost £37.8m in 2009-2010

"Guardian Media Group’s pre-tax losses increased 77 per cent to £171m in the year to the end of March.
Operating loss at Guardian News & Media, the division which publishes The Guardian and The Observer, increased to £37.8m.
Detailing its full-year results today, GMG attributed its increased pre-tax losses to an impairment charge against its investment in Emap, totalling £96.5m, and a further impairment of £63.9m on GMG Radio.
GMG has also written £47m off its books following the sale of its regional media division to Trinity Mirror.
Turnover at GMG fell to £476.2m from £543.4m it made in the same period the previous year, while its combined cash and investment fund stood firm at £260.8m, just down on the previous year where the pot was £267.7m.
GNM’s losses were a slight increase on the £33.7m lost the previous year despite cost savings of £26.2m over the period. Revenue at GNM fell by £32.6m in the 12 months to 28 March, while statutory operating losses before exceptional items at GNM were £37.8m, only a slight drop on the previous year's figure of £33.7m."
Source: UK Press Gazette, 10th June 2010
Earlier - 36.8m lost in 2008-09

No comments: