Operating profit and revenue up at Hello magazine

Hello magazine saw its operating profit rise by 21.5 per cent last year, newly filed accounts at Companies House have revealed.

The weekly celebrity magazine, owned by Spanish company Hola, reported a £851,889 profit in 2008, compared to £701,016 in 2007.

Turnover increased by 3.3 per cent from £35.8m in 2007 to £36.9m last year.

According to the accounts, the number of staff employed by the weekly celebrity gossip magazine remained stable at 50.

Hello said in the preface to its accounts: “The company has had a satisfactory year and the directors are actively endeavouring to further increase the circulation of the magazine.

“The sales of the magazine in 2008 have increased 7.15 per cent compared with 2007 in spite of strong competition in the sector, and a worsening economic situation during the period.”

Hello magazine will beat its rival OK to the newsstands by 24 hours from today, after signing a faster printing deal with Daily Mail publisher Associated Newspapers.

In the last set of consumer magazine ABCs, covering the second half of 2008, the circulation gap between Hello and its bigger rival OK stood at 84,855.

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