Mecom slumps in key markets

EUROPEAN newspaper group Mecom yesterday reported an €11m (£9.7m) pre-tax loss, dragged down by poor performances at its Dutch and Polish businesses. Total revenue for the year fell by one per cent to €672.2m, with advertising revenue dropping four per cent to €313.5m.

Mecom chief executive Stephen Davidson blamed “faltering consumer confidence and weak domestic consumption” in its key markets.