Pre-tax losses on ordinary activities in the year to the end of December 2010 dropped 85% from £1.26m in 2009.
The digital arm of the upscale publisher, which oversees websites for Vogue, Glamour, GQ and Tatler in the UK, alongside a series of smartphone and iPad apps, generated revenue of £6.18m last year – up from £4.97m in the previous 12 months.
The company had a debt of £413,244 last year, up marginally on debts of £362,622 in 2009.
Staffing costs for the business stood at £2.32m last year, up marginally on the £2.26m it spent on its employees in 2009.
The number of staff employed by CondeNet UK also increased marginally to 41 over the course of last year from 39 in 2009.
CondeNet UK's reduced losses come after sister company Condé Nast UK filed financial results that showed it bouncing back from the recession with pre-tax profits almost tripling year on year in 2010.
Pre-tax profits on Condé Nast UK’s ordinary activities in the year to the end of December surged to £15.14m – up from pre-tax profits of £5.64m in 2009.
The publisher generated revenue of £111.98m last year, topping the £106.8m it made in 2009.
Revenue for the publishing company was generated mainly in the UK – £86.27m, with the additional £25.71m generated oversees.
Although a healthy improvement on 2009, Condé Nast UK's financial results could not quite reach the highs of 2008, when pre-tax profit stood at £20.14m on revenue of £125.3m, with a retained profit of £14.2m and operating profit of £18.9m.
CondeNet UK's move toward profitability comes after Future Publishing announced in May that its digital activities were in profit for the first time, driven by a digital ad revenue increase of 44% in the UK.
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