Losses at Guardian owner climb to £68.7m
Media group has launched three-year cost-cutting plan
Guardian Media Group, which owns the Guardian and Observer newspapers in Britain, has reported a pre-tax loss of £68.7m for the year to April 3. This compared with a loss of £14.7m a year earlier.
Total revenue fell to just under £210m in what the company called'turbulent' trading conditions and advertising volatility across the market. The pre-tax loss figure did not include £104.3m in exceptional losses mainly due to the sell-off of some ...
