Show Hide image

Telegraph Media Group profits up 11% in 2010

The publisher says its pre-tax profits stand at £58.9m, a £5.8m increase on the 2009 results.

Telegraph Media Group recorded an 11 per cent year-on-year increase in pre-tax profit in 2010 as ad markets recovered and it continued a cost-reduction programme.

The publisher, which owns both the Daily and Sunday Telegraph newspapers, said it filed accounts at Companies House yesterday that showed pre-tax profits of £58.9m last year.

Publishing selected results ahead of full release, the company said this was a £5.8m increase on the £53.1million pre-tax profit it made in 2009, which included an exceptional profit of £13.2m.

Therefore profit from trading before tax and excluding exceptional items in 2010 increased by £19m, a 48 per cent year on year rise, the company said.

Revenue was £323.8m last year, the company said, an increase of 2.1 per cent on 2009, which was a 53-week year compared to 52 in 2010. Therefore, on a like-for-like basis revenue was up 3.5 per cent, TMG said.

Read more at Press Gazette