FHM and Grazia publisher Bauer Consumer Mediareported a drop in revenue and profit last year.
A directors’ report filed at Companies House revealed turnover fell 7.2 per cent to £228.1m in 2011 and operating profit fell 5.9 per cent to £50.5m.
Profit after tax also took a tumble, dropping from £48.8m in 2010 to £42.1m in the year to 31 December 2011.
UK revenue, which accounts for 93 per cent of total income, was down was down 7.3 per cent to £212.9m.
Income from the rest of the world fell slightly from £15.9m to £15.1m.
Staff costs remained static at £3.5m.
Last month, the latest ABC figures showed that overall circulation at Bauer’s UK titles, which also include Heat, Kerrrang!, Mojo and Zoo, was down 10.7 per cent in the first half of 2012 to 2,224,647.
The best-performing title was Car, which saw circulation rise 0.3 per cent to 54,171, while the worst performer was FHM, down 20.4 per cent to 123,844.