Economist profits soar

LONDON - Publishing house The Economist Group increased its operating profit by 25% to £20.8m in the six months to 30 September, with turnover up 4% at £124.6m.

In the January to June ABC figures The Economist’s circulation rose 11% year-on-year, to 1.26 million.
Increased digital ad revenue and a strong performance by the Economist Intelligence Unit – the group’s database of business analysis and intelligence from across the world – together with a successful six months for EuroFinance, have all contributed to the strong results.

Meanwhile the magazine website Economist.com has “delivered significant traffic growth”. Monthly unique users increased on average by 39% year-on-year, reaching 2.6m in September this year.

Helen Alexander, chief executive of The Economist Group, said she remained “confident about the outlook” of the company, while “being conscious of the volatility in the financial markets”.

Sarah Crawley-Boevey Media Week 03-Dec-07