Guardian Media Group’s national newspaper division, Guardian News & Media, is set to report a loss of about £35m for the financial year to the end of March.
GMG Radio and GMG Property will also report operating losses, according to a report on MediaGuardian.co.uk, while GMG’s regional newspaper division will make an operating profit of less than £1 million, down from £14 million profit in the previous financial year.
The loss was revealed at a staff briefing given by the Scott Trust, a private company tasked with keeping the Guardian financially and editorially independent.
GMG has a 30% stake in Emap, the business-to-business publisher and events company, which is due to make a £100 million profit, said the report, while Trader Media Group, in which it has a just over a 50% stake, will also make about £100 million profit.
GNM display advertising revenues have fallen by about 30% year on year during the last financial year, while recruitment revenues have fallen by about 40%, the report said.
