Telegraph Media Group reports 11% profit boost for 2010
Advertising rebound and integration of print and digital operations see profits rise to almost £60m
– 1 min read
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The Telegraph Media Group, publisher of the Daily Telegraph, Sunday Telegraph and Telegraph.co.uk , has reported an 11 per cent profit for 2010 thanks to a strong advertising rebound and its integration of print and digital operations.
The group's pre-tax profits rose to £58.9 million, compared with £53.1million in 2009, according to financial statements filed with Companies House yesterday.
TMG credited year-on-year growth in digital and in newspaper circulation, a return in advertising revenue and cost savings for the rise in profits.
Overall turnover was up 2.1 per cent on 2009, taking it to £323.8 million for last year. A 53-week year of 2009 compared with a 52 week year in 2010 gave a 3.5 per cent rise on a like for like basis, today's statement said.
Operating profits were up 48 per cent on 2009, when weak advertising gave a £41.4 million profit, which included an exceptional profit of £13.2 million, TMG said.
Written by
Sarah Marshall is VP Audience Strategy at Condé Nast. She leads distribution and channel strategy globally. She is also the former technology editor for Journalism.co.uk (prior to it becoming JournalismUK)
