Record operating profit for Economist Group

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The Economist Group has announced a record operating profit due to online revenues rising the success of the Economist Intelligence Unit and increased print circulations, reports PPA.

The operating profit was up 23 per cent to £44.3m, with revenue up 8 per cent to £266.4m.

It was also a record year of circulation growth at The Economist, with circulation up nine per cent year on year to 1,306,939 for the second half of 2007.

Helen Alexander, outgoing chief executive of The Economist Group (to be replaced by Andrew Rashbash next month), said: ‘We have beaten the ambitious targets set at the beginning of the year with a 23 per cent increase in operating profit, largely built on taking share in our core markets. We want to get bigger in Asia and have established a presence in India. We have continued to build a strong platform for our internet businesses. In particular our figures for The Economist, with advertising revenues and circulation growing strongly, are bucking the wider trend.”

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