Ad Revenues Plummet At The Telegraph

Advertising revenues at the Telegraph Group dropped by almost 12% in the second quarter as the downturn in the recruitment sector persisted.

The group, which publishes the Daily Telegraph and the Sunday Telegraph said that operating profits were down by £2.1 million to £76.2 million in the three months to June. The two titles saw ad revenues fall by 11.8% to £46.5 million.

Although circulation has fallen by more than 8% in the past year, associated revenues rose by 20.6% year on year to £25.8 million as a result of cover price increases. However, revenues from recruitment ads slumped by almost 29% and there was a 10% decline in display advertising.

Hollinger International, which owns the Telegraph Group, said this week that it expected year-end operating profits to be 17% lower than in 2002.

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