Strong Performance From Guardian Group

The Guardian Media Group has cited strong ad markets, lower newsprint costs and tight cost control as reasons for a significantly improved first-half performance for 1997.

The owner of The Guardian and The Observer, announced pre-tax profits of £26.6 million for the six months to 28 September, 1997. This compares to a loss of £1.8 million for the same period in 1996. Turnover rose by 14.5% to £181.8 million.

The Group’s chairman Robert Gavron, says the outlook for the rest of the year is promising, although he expects growth to ease to a slower rate for the second half.

The Guardian: 0171 278 2332