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.
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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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