Hollinger International, owner of the Daily Telegraph in the UK, has announced a net loss for the second quarter ending 30 June 2001, of $15.5 million – a loss of $0.17 per share. This compares to net earnings of $4.7 million or $0.03 per share for the same period last year.
UK broadsheets are likely to suffer heavily this year, given that they benefited most from the dotcom boom of 2000, according to analysts at ABN Amro. Q2 is likely to be the most difficult comparable, although the continuing outlook for Hollinger and other UK and other newspaper groups remains quite poor, says the broker.