Condé Nast UK Profits Fall 36% Despite Ruled-Out Sale
Condé Nast’s UK pre-tax profits tumbled 36% last year to nearly £18m, driven by rising restructuring costs, even as the Newhouse family held company ruled out selling the publication group.
Newly filed accounts show Condé Nast’s UK arm saw pre-tax profits excluding exceptional items fall 36% from £28m in 2024 to nearly £18m in the subsequent year. UK-generated revenues declined 7% from £75.9m to £70.6m, while an 18% increase in international revenues kept total company revenues nearly flat at £100m.
Restructuring costs more than doubled year on year, jumping from £1.9m to £4.3m, primarily due to severance costs. Despite the financial charges, a spokesperson stated that headcount remained flat at 461, with isolated instances of redundancy offset by continued hiring across the business.
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- Condé Nast’s UK profits drop by more than a third as sale of Vogue publisher ruled outTheGuardian · Primary source
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Condé Nast’s UK pre-tax profits excluding exceptional items fell 36% from £28m to nearly £18m, and UK revenues dropped 7% to £70.6m.
confirmedSteven Newhouse, the chair of the Newhouse family holding company Advance, ruled out a sale of the publishing giant.
confirmedCondé Nast stated its restructuring charge was primarily due to severance costs, with headcount remaining flat as hiring continued.
confirmed