However, the company forecasts it will be profitable by 2012 as its finances benefit from rising advertising revenues and the stripping out of certain functions of the business.
The accounts for Evening Standard Limited cover the period between December 10 2008 and October 4 2009.
The period includes the first eight months the newspaper was owned by Lebedev, and the previous two months, when it was the property of the Daily Mail & General Trust (DMGT), owner of the Daily Mail.
The London Evening Standard was a 50p paid-for newspaper during the period, not distributed free as it is now.
Turnover for the 10 months was £22.3m. In terms of the Evening Standard’s operating losses, these included redundancy costs of £3.4m and an impairment charge of £3.6m.
Wages and salaries reached £10.5m in the period, while the average number of employees was 346.
The directors of Evening Standard Limited are editor Geordie Greig, chairman Justin Byam Shaw, Lebedev, his son Evgeny Lebedev who is a senior executive director, and the managing director of the London Evening Standard, Andy Mullins.
The highest-paid director received £302,552 in the period.
The accounts for Evening Standard Limited cover the period between December 10 2008 and October 4 2009.
The period includes the first eight months the newspaper was owned by Lebedev, and the previous two months, when it was the property of the Daily Mail & General Trust (DMGT), owner of the Daily Mail.
The London Evening Standard was a 50p paid-for newspaper during the period, not distributed free as it is now.
Turnover for the 10 months was £22.3m. In terms of the Evening Standard’s operating losses, these included redundancy costs of £3.4m and an impairment charge of £3.6m.
Wages and salaries reached £10.5m in the period, while the average number of employees was 346.
The directors of Evening Standard Limited are editor Geordie Greig, chairman Justin Byam Shaw, Lebedev, his son Evgeny Lebedev who is a senior executive director, and the managing director of the London Evening Standard, Andy Mullins.
The highest-paid director received £302,552 in the period.
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