Read all about it: The Times posts its first annual profit in 13 years

 
Joseph Millis
The Times and Sunday Times are now based at the so-called Baby Shard at London Bridge

Times Newspapers (TNL) yesterday posted a £1.7m operating profit for the year ending 30 June 2014, the first time it has made a profit since 2001.

The publisher of the Times and Sunday Times, part of Rupert Murdoch’s News Corp, last year recorded a loss of nearly £6m. Five years ago, in the year before it launched its paywall, there was a more than £70m loss. Both titles also reported increases in their total sales, combining audited print circulation and self-reported digital subscription numbers.

TNL said that total paid sales in October for the Times was 545,000 and the Sunday Times 958,000. Dig­ital membership accounted for 291,000 (54 per cent) of the Times’ total and 338,000 (35 per cent) of the Sunday Times. Across both titles there has been a 10 per cent growth in membership to 390,000, as at the end of October, comprising 170,000 members taking TNL’s digital-only product, up 12 per cent year-on-year, and 220,000 taking the print and dig­ital product, up nine per cent.

Times editor John Witherow said: “We have invested a huge amount of time and energy into putting the Times on a sustainable footing, which is the best way to ensure we can continue to produce world-class journalism.”

Related articles