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

FT to reveal first design overhaul in seven years

FT to reveal first design overhaul in seven years

The Financial Times is set to unveil its first design refresh in seven years tomorrow, created for easier navigation and to better complement its digital brand extensions.

Share
News UK's Style magazine attracts £1m worth ads for Fashion Week

News UK's Style magazine attracts £1m worth ads for Fashion Week

As further evidence of London Fashion Week's boost to media, The Sunday Times' Style magazine is set to publish its biggest ever issue on Sunday (14th September), running at 172 pages and more than £1 million worth of ad revenues.

Share
Watch: Comedian Ross Noble opens up about the pitfalls of making 'rubbish ads'

Watch: Comedian Ross Noble opens up about the pitfalls of making 'rubbish ads'

Magician Dynamo and comedian Ross Noble talk to Campaign about their shows on UKTV and why it's not "ideal" to star in "rubbish" ads.

Share

Get news by email