Telegraph profits lift 11% in 2010 as advertising recovers

Telegraph Media Group has posted an 11% increase in pre-tax profits in 2010, after a rebound in print advertising revenues.

Telegraph Media Group: rise in ad revenue boosts profits
Telegraph Media Group: rise in ad revenue boosts profits

The Daily Telegraph owner unveiled pre-tax profits of £58.9m in the year to 2 January 2011, in a statement published ahead of full financial details being published by Companies House.

Turnover for the year was £323.8m, an increase of 2% on 2009 [53 weeks], and 3.5% on a 52-week, like-for-like basis.

Circulation, digital and "other consumer revenue" categories all achieved year-on-year growth.

The annual increase in profits comes despite 2009 figures benefiting from an extra week of trading, and being flattered by a one-off boost of £13.2m from the sale of land and a share in two printing ventures.

The additional week's trading in 2009 contributed turnover of £4.3m and operating profit of £2.1m to that year's results.

The media group was keen to highlight that when the impact of these one-off items were removed, last year’s underlying operating profit was up 53% year on year.

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