News International's papers report lower profits
News Group Newspapers and Times Newspapers reported lower profits for the 52 weeks ended 28 June 200
News Group Newspapers (NGN), which publishes The Sun and The News of the World, has reported a 10 per cent drop in pre-tax profit to £40.3m.
It however managed to attract more adverts by investing in colour-printing capacity and managed to bring down its operating loss by 16 per cent to £15.5m.
The two newspapers benefited from a series of print ad campaigns from some of the biggest national supermarkets and DIY promotions, said a company spokesman.
Times Newspapers, which publishes The Times and The Sunday Times, reported a 60 per cent increase in operating losses to £72m for the same period.
The combined turnover of the two newspapers dropped by £60m to £385.5m due to a fall in ad revenues.