London Evening Standard in profit for third year running

The London Evening Standard has reported a trading profit of £1.4 million for the year ending September 2014, marking the third consecutive year of profit.

The Evgeny Lebedev-owned title, which at the beginning of 2014 upped its print run from 700,000 to 900,000, also saw turnover increase by 8.7% to just short of £63 million.

The increase in circulation has harnessed a healthy print readership for the Evening Standard, which currently stands at a daily average of 1.9 million – the highest figure yet.

Digital readership has also gone from strength to strength, with standard.co.uk up a massive 77% over the year to bring in 443,500 unique browsers a day.

“The Evening Standard is an incredible brand and proof that print is very much alive,” said Steve Auckland, group CEO of ESI Media.

“Three consecutive profitable years is something to be celebrated and testament to the success of the strategy to turn the paper free and revitalise the business.

“Recently we’ve made huge steps forward with our digital offering. The latest investment in our website will help us further develop our brand, audiences and revenues.”

The news comes as London Live, also owned by ESI Media, made a £12 million loss for the same financial period.