Conde Nast reports pre-tax loss of £13.5m for 2017

Vogue and GQ publisher Conde Nast Britain made a pre-tax loss of £13.5m in 2017, down from a pre-tax profit of £6.7m a year earlier. The magazine publisher, which also owns Vanity Fair, Tatler and Wired, reported turnover of £113.5m, down 7 per cent year-on-year.

In full-year accounts filed with Companies House this week, managing director Albert Read said that of the company’s losses, £5.7m was attributed to business restructuring.

He said: “2017 was a transformational year for Conde Nast Britain. Appointing new leadership across many of our brands, we reorganised team structures and relocated all staff into Vogue House.”

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