TY FAIR magazine publisher Conde Nast soared to a 14 per cent increase in pre-tax profits last year – boosted by a surge in UK turnover, according to accounts obtained yesterday.
The firm, which publishes Tatler, GQ, Vogue and Glamour magazines, took pre-tax profits to £17.3m versus £15.1m a year previously.
The strong performance from the firm, which is led by publishing supremo Nicholas Coleridge, was helped by a 5.2 per cent spike in revenues over the year, taking it up to £117.8m.
Accounts filed at Companies House show markets in both the UK and the rest of the world added solid revenue streams, with revenue from magazines and products sold in the UK up 4.1 per cent to £89.8m and revenue from the rest of the world up 8.9 per cent to £28m.
However, this year has seen the firm’s circulation decrease slightly. ABC figures for the first half of 2012 reveal its circulation dropped 3.7 per cent, led by a double digit drop from Glamour magazine. Around 1.5m copies of magazines from its stable now sell in the UK, according to the ABC figures.