Earnings: Telegraph Rides Out Print Costs, ‘Strong Position’ For Digital

It’s been a couple of years of great upheaval at Telegraph Media Group, not least for some of the journalists who have played musical chairs or lost their job in the paper’s relocation and subsequent multimedia integration. On Monday, the group told Companies House it made £34.3 million operating profit in 2007, figures out today show. But it knocked plenty off that, taking an exceptional charge after sinking £23.8 million in to a new printing press arrangement

The daily paper lost 10,459 print readers over the year but added another half of its online audience, standing at 8.96 million monthly uniques. What’s not unique – the company said it is being “impacted (by) digital technology and the spread of broadband internet“, which “fundamentally change the manner in which consumers access news and information”. It said there’s “continuing pressure” on print circulations “as readers seek their news from an increasing variety of sources”. Telegraph congratulated itself as having “performed well” despite all this, saying it’s “in a strong position” thanks to its newsroom integration. Income itself rose four percent to £354.9 million.