View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. News
October 28, 2009

Sport Media Group circulations up 10% but profits tumble to £263,000

By admin

Sport Media Group has reported pre-tax losses of £7.7m for the year to end of July but said circulation of the Daily and Sunday Sport had risen ten per cent since hitting a low in March.

However, the group dropped out of ABC accreditation earlier this year so independent verification of circulation figures is unavailable.

The group had operating profits of £263,000 in from the 12 month period compared to £6.4m profits in the same period in the previous year.

David Bailey, chairman, said after completing a significant refinancing and restructuring, SMG was “well positioned to build on our current profitability and deliver the potential that this group of companies has always promised”.

After breaching its banking covenants earlier this year SMG was reported to be a week away from bankruptcy before former owner David Sullivan stepped in with a loan to keep the business afloat and became involved again in running the business.

Content from our partners
Publishing on the open web is broken, how generative AI could help fix it
Impress: Regulation, arbitration and complaints resolution
Papermule: Workflow automation for publishers

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network