Telegraph suffers £8.8m loss after restructure

LONDON - The Telegraph Media Group, publisher of The Daily Telegraph and The Sunday Telegraph, suffered a pre-tax loss of £8.8m in 2006 because of heavy restructuring and internet investment, according to results filed with Companies House.

The company's loss was an improvement on the £33m deficit for 2005, which was larger because of costs associated with moving the group from Canary Wharf to central London.
During 2006, the group paid £25m in interest on borrowings and £19.6m for 139 redundancies and costs associated with merging the print and online output of the newspapers.

Gross profit for the group increased from £103.7m in 2005 to £108.1m in 2006, on revenues up from £440m to £450m.
The group is owned by Sir David and Sir Frederick Barclay, who also control the Littlewoods mail order business and properties including the Ritz Hotel.


Jacquie Bowser Brand Republic 06-Nov-07