Figure almost flat compared to previous year, while operating profits are up due to savings on newsprint and distribution
The United Kingdom’s Telegraph Media Group has reported pre-tax profits of £57m last year, almost flat compared with 2012.
The publisher of the Daily Telegraph and the Sunday Telegraph said savings on newsprint and distribution reinvested in its digital operations have boosted operating profits by 4.6% year on year to £61.2m.
Operating profit after exceptional items fell from £58.4m to £57.8m.
Revenues at TMG in 2013 fell 0.7% year on year to £325.2m while pre-tax profits were £57m, compared to £57.2m the previous year.
Print-advertising revenues were also down, which the group said was only partly mitigated by a marginal increase in circulation revenues and continued growth in digital revenues.
The Telegraph’s digital content went behind a metered paywall for UK users in March 2013, following its introduction for international users in March 2013.
TMG said it had “delivered a good trading performance given the challenging environment at a time when the economy was still in recovery”.
TMG’s rivals including the Times, the Independent and the Guardian are loss-making.
– www.theguardian.com
