The Guardian Media Group, owner of the Guardian, has released results for the year to April 1994. Pre-tax profits were virtually halved to £11.7m from £22.9m in the previous 12 months. This year’s figures were affected however, by £5.6m in redundancy costs following the acquisitions of The Observer and Thames Valley Newspapers. Chairman Harry Roche said that all group operations were in “a strong growth phase”.
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