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Telegraph Back To Profit After Cost Cuts, Web Integration

By Stephen Brook: Telegraph Media Group, publisher of the Daily Telegraph and Sunday Telegraph, returned to the black last year, recording a pre-tax profit of £53.1m.

The pre-tax profit, up from a £15.7m loss the previous year, included an exceptional profit of £13.2m and net interest payable of £1.5m, TMG said in a press release.

TMG said turnover for the 53 weeks ended 3 January, reflecting the severity of the economic downturn and the impact on advertising revenues, was £317m, down 7.7%.

“Circulation revenues proved resilient, underpinned by an extremely strong and loyal subscriber base,” the company said.

TMG had an operating profit before exceptional items of £41.4m for the 53 weeks, compared with a profit of £32m for the 52 weeks in 2008.

“Despite the recessionary pressures on revenues

This article originally appeared in © Guardian News & Media Ltd..