Free London business newspaper City AM has claimed a healthy return to print profitability over the last year, reports Charlotte Tobitt of Press Gazette.
Tobitt reports, “City AM chief executive Harry Owen told Press Gazette that the print newspaper had a gross profit margin of 50% last quarter excluding labour costs, as these are now hard to split between print and digital.
“This is up from around 25% in the first quarter of this year and a loss in early 2024.
“Overall (including digital) City AM’s earnings before interest and taxes were said to be up 52% year on year in January to August compared to the same period last year, Owen said.
“‘There’s no doubt that 2024 was transformative,’ Owen said.
“City AM is not required to publish its full financial accounts and has not shared specific figures.”
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