Profits for Evening Standard
The London Evening Standard is making a profit within three years after going free. Andrew Mullins, the paper’s managing director, says in the Guardian that in the year up to 30 September, the Standard managed to return a profit of just over £1m.
At the time the paper went free, in October 2009, the previous quarter’s figures, if annualised, would have registered a loss of £30m. After one year as a free, the loss was £16.9m. In the second year, from October 2010 to September 2011, the loss had been reduced to £7m.
The paper increased circulation from 600,000 in 2009 tot 700,000 now.
Financial free daily City A.M. saw profits in 2011 drop with 95% in 2011, falling from £439,000 in 2010 to just over £20,000 last year. (Guardian)