NDM

Tindle group profit dips to £1.4m

Sir Ray Tindle's newspaper generated a profit of £1.4m at the end of March 2013. The publishers of the newspapers had claimed that they have not closed any of their titles, and they are not working on refurbishing any of their previous titles.

Tindle Newspapers were in a loss overall for the 2013 period figures on show that prove this are,

·         Pre-tax profits fall from £2.06m to £1.39m in 2013.

·         Total revenues fell by 5% from £35.7m to £34m.

·         Group operating profit fell 28% from £1.78m to £1.28m.

During 2013 the company faces endless stress in creating a revenue. The main reason for this was due to the pressure of the newspapers attracting advertisements for their newspapers without advertisements this then left them with no fund allowing them to expand newspapers and fan base. However they were still able to launch 20 new local titles in London areas. One way in which they were able to save costs was to make staff redundant. The only members of staff which have not been made redundant are the journalists and the directors.

·         Staff costs dropped from £15m to £14.6m as headcount was lowered from 761 to 725.

·         Of these staff, 282 are listed as editorial and production, a 7% fall from the 303 employed at the end of the previous financial year.

·       Despite the cut in staff numbers, the publisher said it had steadfastly backed its newspaper portfolio and that there had been no compulsory job losses since the downturn in 2009.