THE GUARDIAN News and Media, which owns the Guardian and Observer newspapers, reduced its losses before tax, interest and amortisation from £44.2m to £30.9m in the last financial year.
Revenues for the continuing businesses of its parent company, Guardian Media Group, were almost flat at £206.8m, and the group posted a pre-tax profit of £22.7m, compared to a loss of £19.8m in the previous year.
Yet the company made an operating loss of £54.8m, albeit down from £73.3m last year.
Digital revenues rose 28.9 per cent to £55.9m. The company’s 50.1 per cent share in publisher Trader Media brought in post-tax profits of £38.3m, while Top Right Group, the media and events group, contributed £35m.