Telegraph profits down year on year but still huge compared to Times and Guardian - Press Gazette

Telegraph profits down year on year but still huge compared to Times and Guardian

Telegraph Media Group has announced operating profit and turnover slightly down year on year on a “like for like” basis.

But it remains by far the most profitable newspaper publisher at the broadsheet end of the market in the UK.

The Daily and Sunday Telegraph publisher reported operating profit before exception items of £48.3m for the 52 weeks to 28 December 2015, compared with £54.9m in the same period a year earlier.

Turnover for the year was £320.1m, compared with £318.1m in 2014.

The results were released in a press release and have yet to appear in full on the Companies House website.

TMG said: “The group delivered a good trading performance set against a challenging print advertising trading environment and the ongoing investment in the transformation of the business.

There was said to be double digit growth in digital revenue and “marginal” growth in circulation revenue. There was said to be a single digital percentage decline in print advertising.

The company said: “Cost savings primarily from newsprint and production were reinvested in digital operations.

“So far in 2016 the advertising market has continued to be challenging across the industry. The group has been undertaking an operational review to ensure it is best placed to meet the demands of the continuing deep structural change within the industry.”

The results contrast favourably with other publishers in the Telegraph’s market.

Guardian Media Group reported a trading loss of £68.7m for the year to the end of March 2016, with digital revenue down year on year.

Guardian financial results: £173m pre-tax loss, digital revenue down, £73.3m gone from investment fund

The Times and Sunday Times reported a pre-tax profit of £10.9m for the year to the end of June 2016.




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Author: Dominic Ponsford

Dominic Ponsford is the editor of Press Gazette


2 thoughts on “Telegraph profits down year on year but still huge compared to Times and Guardian”

  1. Meanwhile Alan Rusbridger, the former editor of the Guardian,who ‘masterminded’ the strategy of ‘Free is Good,’ has predicted that the Guardian’s print edition will disappear soon. This would leave the paper with UK, US and Australian web sites which cost tens of millions to run but generate little money. How would this print-less Guardian earn any money? Does Rusbridger know? No. Does he care? Probably not. He has a fat pension and a comfy berth as Master of an Oxbridge college. At the current rate the Guardian will be broke soon, even with a print edition. It’s a fine newspaper so let’s hope the management can fix the mess created by Rusbridger.

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