According to accounts filed at Companies House, News Group’s turnover for the year was £623.3 million, down 3% from £643.3 million in the previous year.
“The principal cause of the reduced turnover was a reduction in circulation revenue, with the effects of reduced circulation and regional pricing initiatives partially offset by the full year of the cover price increases on the Sun and the News of the World in the previous year,” the company directors said in the accounts.
News Group, a subsidiary of Rupert Murdoch’s News International, also reported that advertising revenues were slightly down because there had been no major sporting events in the company’s past financial year.
Operating profit fell from £11.8 million to £10.8 million.
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