Telegraph Profits Up 8%

The Telegraph Group has announced interim results this morning for the six

months to June 30. Profits before tax and exceptional items were up 7.8% to £30.3m. Pre-tax profits alone, discounting exceptional items showed a decrease of 12%. The price cut, which occured within one week of the reporting period, reduced profits by £1m. Analysts had expected better results.

News International’s final results are released tomorrow, and are expected to

show a £38m decrease on last year, due to effects of the price war. Although circulation has increased, revenue income has remained static, city analysts believe.