Hearst Magazines increases profit nine-fold to £12.4m

Hearst Magazines, the publisher of Cosmopolitan and Esquire, has reported pre-tax profits of £12.4m for 2010, more than nine times its profit of £1.3m reported in 2009.

Triathlete's World: soon to become a digital-only title
Triathlete's World: soon to become a digital-only title

The publisher of Good Housekeeping, Elle and Harper’s Bazaar reported revenues of £310m in 2010, a rise of 4.3% year on year from £297m in 2009, according to documents filed at Companies House.

The results show a continued upturn in the group's finances, after a massive writedown contributed to a £42.8m loss for the group in 2008, and allowed Hearst to pay a dividend of £8m to its US parent company, Hearst Corporation.

Hearst Magazines UK was formed in August, when NatMag merged with Red and Psychologies-owner Hachette Filipacchi UK. It followed Hearst's acquisition of Hachette Filipacchi UK from French publisher Lagardere.

Former NatMag titles She and Cosmo Bride were closed following the merger, while a senior management restructure, announced last month, led to the former publishers of Harper’s Bazaar, Elle and Good Housekeeping all leaving Hearst.

Hearst announced that its NatMag Rodale health title, Triathlete’s World, launched in 2009, would continue as a digital-only venture after its final print edition next month.

Follow Sophie Maden on Twitter @Sophie_Maden

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up

Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up

Waitrose has joined forces with Channel 4 and produced a Saturday morning lifestyle and cookery programme called 'Weekend Kitchen with Waitrose', with TV presenters Lisa Snowdon and Steve Jones signed up to front it.

Share
Newspaper ABCs: Guardian smashes through 100m browsers in March 2014

Newspaper ABCs: Guardian smashes through 100m browsers in March 2014

The Guardian reached more than 100 million monthly unique browsers for the first time in March, according to Audit Bureau of Circulations figures published today.

Share
Toyota achieves the impossible by calming angry Roman drivers

Toyota achieves the impossible by calming angry Roman drivers

Italians swearing and shouting while sitting behind the wheels of their cars and negotiating the busy streets of Rome could become a thing of the past if they all start driving Toyota's Hybrid vehicles, implies a short film for the car brand.

Share

Get news by email