Guardian Media Group posts £76.6m pre-tax loss

Guardian Media Group has reported pre-tax losses of £75.6m in the last financial year.

The Guardian Newspaper Office (Image: Getty)

The Guardian’s parent company Guardian Media Group has reported pre-tax losses of £75.6m in the last financial year.

GMG said the loss, which contrasts with pre-tax profits of £9m in 2011, was down to an exceptional charge relating to the sell-off of its subsidiary GMG Radio.

The company’s annual report published today, covering the year to March 2012, also revealed that the combined value of its cash balance and investment fund has risen from £197.4m to £225.8m, reflecting dividends from its shares in Trader Media Group (TMG).

Read more at Press Gazette