Vogue publisher reports £14m loss in UK

Condé Nast UK, the publisher of high-end magazines including Vogue and GQ, made a pre-tax loss of £13.7 million last year despite a £4.3 million profit in 2017.

The American-owned business – which first began publishing in the UK in 1916 – reported a 6.6% fall in revenue to £113 million, according to its accounts published this week.

The loss was largely due to one-off exceptional items, including restructuring and an office move, the publisher said. Without them, year-on-year profit would stand at around £4 million.

Last year Alexandra Shulman, the British Vogue editor, left the business after 25 years, to be succeeded by Edward Enninful. The publisher also moved glossy magazine Glamour to an online-only operation.