Time Out reports £3.1m pre-tax loss
Posted
by
Dominic Ponsford
on 14 January 2010
at 08:59
Tags: Consumer Magazines, Magazines, Media Business
Pre-tax losses at Time Out Group rose to £3.1m in 2008 on turnover up 13.6 per cent to £29.4m, the Evening Standard reports.
Although print circulation of the flagship weekly London listings magazine has been down, the website attracts 1.8m unique users a month - the group said in its annual accounts.
Founder Tony Elliott told the Standard that he has invested £3m to keep the group solvent.
Despite the pre-tax loss, Time Out made operating profit of £343,000 before exceptional items.
