Mixed profit fortunes for News International groups

News International's red tops have experienced a jump in profits to over £290m, against losses of over £80m for its upmarket sister titles, The Times and Sunday Times.

News Group Newspapers — which owns The Sun and the News of the World — saw its pre-tax profits jump 87 per cent from £59.9m to £291.8m, according to Companies House filings.

The rise includes £163.5m from the sale of Sky Radio, a Dutch radio station, and further income due to an accounting adjustment from the early payment of dividend income from a subsidiary.

Pre-tax losses at the Times Newspapers rose 72 per cent to £80.7m in the year to 30 June, 2006, on a 4.7 per cent rise in both advertising and circulation revenues to £436.1m.

The accounts cover the first full accounting year since the conversion to a tabloid Times.

The loss is partially attributable to the cost of planned redundancies in a reorganisation of parent company News International's printing operation — cutting staff levels by two thirds.

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