Pre-tax profits at The Telegraph amounted to £6.6m for 1996’s first quarter compared with £8.7m for the same period last year.
Total turnover however rose by 18.9% to £72.9 m and newspaper circulation revenue rose by £9.2m, reflecting the two recent cover price increases on The Daily Telegraph, the elimination of the weekend voucher schemes and the benefits arising from revised distribution arrangements.
Ad revenue rose by 5.1%: year on year, classified advertising continued to perform strongly, up 10.4% and financial advertising improved considerably – rising 8.2%. Display advertising markets were less successful with revenue falling by 6.2%. The Board however believes that the display ad markets are showing signs of improvement in the second quarter.
The Telegraph: 0171 538 5000
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