Pre-tax profits on 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 luxury publisher, which in addition to Vogue, publishes Glamour, GQ and Tatler in the UK, 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.
The profit that the publisher retained for the financial year stood at £10.21m, up from £3.2m in 2009, while operating profit also rose from £5.5m in 2009 to £14.99m.
The company also paid a dividend on ordinary share of £13.52m – down from £16.07m in 2009. Debt increased to £35.10m from £26.58m the previous year.
Although a healthy improvement on 2009, Condé Nast’s financial results, which were made public by Companies House last week, 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.
Staff costs were marginally lower last year – down from £34.71m in 2009, to £33.61, as the average number of staff employed by the company dropped from 605 in 2009 to 577 last year.
Condé Nast paid directors emoluments of £2.76m last year, plus pension contributions of £203,000 for a total of £2.97m, down from the £3.47m it paid the previous year.
The company’s highest-paid director was paid £765,000, with an accrued pension benefit for that individual amounting to an additional £40,685, plus another £11,964 from the executive pension plan.
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