The Economist helped by cuts

The Economist Group said yesterday that a cost-cutting programme had helped it realise full year pre-tax profit growth of 19 per cent to &pound;56m, but forecast a challenging year ahead as lower advertising and sponsorship revenues continue to decline.<br /><br />The publisher of The Economist said in its annual report that it reduced its headcount by 130 as a part of a restructuring to offset the economic climate.<br />