IPC bucks trend in recession

Country Life publisher IPC Media reported annual pre-tax profit up 2.5 per cent £78.6m in 2008, keeping an even keel despite a drop in advertising. The UK’s biggest consumer magazines publisher, which is owned by media conglomerate Time Warner, said that turnover fell by 2.8 per cent to £393.5m in the period, but that cost-cutting helped it to report a profit.