Higher profit and circulations make good reading for National Magazine Company
The publisher of Harpers Bazaar, Good Housekeeping and Esquire has swung to a pre-tax profit of £1.3 million last year despite one of the toughest 12 months in magazines.
Turnover at National Magazine Company, owned by US publishing giant Hearst, tumbled 13.8% to £296.9 million in 2009.
But NatMags, which is run by French chief executive Arnaud de Puyfontaine, managed to increase the average monthly circulation of its magazines by 1.2% during the second half of the year.
De Puyfontaine has been keen on circulation-boosting tactics such as "multi-bagging" — selling two or more magazines together for a cheaper price.
The publisher did make a small operating loss of £570,000 before exceptional items pushed it into the black.
In 2008, NatMags recorded a £42.8 million pre-tax loss after it took a £55.7 million writedown on the value of its publishing assets because of the recession.
